Swiss National Bank Boosts Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Swiss National Bank lifted its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,800 shares of the company’s stock after purchasing an additional 59,500 shares during the period. Swiss National Bank owned about 0.13% of Cipher Mining worth $2,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CIFR. State Street Corp increased its position in shares of Cipher Mining by 17.3% in the third quarter. State Street Corp now owns 6,919,189 shares of the company’s stock valued at $26,777,000 after buying an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC grew its stake in Cipher Mining by 37.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock valued at $21,327,000 after acquiring an additional 1,511,455 shares during the period. Tidal Investments LLC increased its holdings in Cipher Mining by 73.4% in the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after acquiring an additional 1,584,874 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cipher Mining by 33.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company’s stock worth $14,568,000 after acquiring an additional 783,509 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Cipher Mining by 11.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,471,822 shares of the company’s stock worth $6,829,000 after acquiring an additional 147,915 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CIFR shares. Rosenblatt Securities began coverage on shares of Cipher Mining in a research report on Friday, March 7th. They issued a “buy” rating and a $6.50 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a research note on Wednesday, February 26th. JPMorgan Chase & Co. downgraded Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. Canaccord Genuity Group reiterated a “buy” rating and set a $8.00 price target on shares of Cipher Mining in a research report on Wednesday, February 26th. Finally, Needham & Company LLC decreased their price objective on Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.13.

Cipher Mining Stock Down 5.2 %

Shares of CIFR opened at $2.54 on Friday. Cipher Mining Inc. has a 52-week low of $2.52 and a 52-week high of $7.99. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $4.56 and a two-hundred day simple moving average of $4.98. The company has a market capitalization of $933.78 million, a PE ratio of -19.54 and a beta of 2.47.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.