HighTower Advisors LLC Buys New Shares in Cipher Mining Inc. (NASDAQ:CIFR)

HighTower Advisors LLC purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,028 shares of the company’s stock, valued at approximately $84,000.

Other large investors have also made changes to their positions in the company. Intech Investment Management LLC purchased a new position in Cipher Mining in the 3rd quarter worth approximately $133,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cipher Mining by 71.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock worth $9,118,000 after buying an additional 977,963 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Cipher Mining by 47.4% during the third quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company’s stock worth $383,000 after acquiring an additional 31,815 shares during the last quarter. Quantbot Technologies LP purchased a new position in Cipher Mining during the third quarter valued at $117,000. Finally, FMR LLC increased its holdings in Cipher Mining by 598.6% in the 3rd quarter. FMR LLC now owns 33,233 shares of the company’s stock valued at $129,000 after acquiring an additional 28,476 shares during the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Needham & Company LLC cut their price objective on Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Cantor Fitzgerald decreased their price objective on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. One equities research 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.13.

Cipher Mining Trading Down 9.1 %

CIFR stock opened at $2.10 on Friday. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $7.99. The stock has a market capitalization of $772.02 million, a price-to-earnings ratio of -16.15 and a beta of 2.47. 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 firm’s fifty day simple moving average is $4.18 and its two-hundred day simple moving average is $4.95.

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.