Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 71.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 370,594 shares of the company’s stock after acquiring an additional 153,921 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Cipher Mining worth $1,720,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new stake in shares of Cipher Mining in the fourth quarter valued at approximately $29,000. KBC Group NV purchased a new position in Cipher Mining during the fourth quarter worth approximately $46,000. Apollon Wealth Management LLC acquired a new position in Cipher Mining during the fourth quarter worth $49,000. Rafferty Asset Management LLC purchased a new stake in Cipher Mining in the 4th quarter valued at $49,000. Finally, Captrust Financial Advisors purchased a new stake in Cipher Mining in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Price Performance

CIFR opened at $3.90 on Friday. The stock’s 50-day moving average price is $2.98 and its 200 day moving average price is $4.33. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.99. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -30.00 and a beta of 2.58. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $48.96 million for the quarter, compared to analysts’ expectations of $53.57 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. As a group, sell-side analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CIFR. HC Wainwright reissued a “buy” rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Cantor Fitzgerald boosted their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a report on Thursday, May 8th. Finally, Needham & Company LLC lowered 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. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $7.63.

Cipher Mining Profile

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.