California State Teachers Retirement System Has $990,000 Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

California State Teachers Retirement System increased its position in Cipher Mining Inc. (NASDAQ:CIFR) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,322 shares of the company’s stock after purchasing an additional 24,209 shares during the quarter. California State Teachers Retirement System owned approximately 0.06% of Cipher Mining worth $990,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CIFR. NewEdge Advisors LLC acquired a new position in shares of Cipher Mining during the 4th quarter worth about $29,000. KBC Group NV acquired a new position in shares of Cipher Mining during the 4th quarter worth about $46,000. Apollon Wealth Management LLC bought a new position in shares of Cipher Mining during the 4th quarter valued at about $49,000. Rafferty Asset Management LLC bought a new position in shares of Cipher Mining during the 4th quarter valued at about $49,000. Finally, Captrust Financial Advisors bought a new position in shares of Cipher Mining during the 4th quarter valued at about $54,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CIFR has been the topic of several recent analyst reports. Needham & Company LLC cut 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. HC Wainwright reiterated a “buy” rating on shares of Cipher Mining in a report on Tuesday, May 6th. JPMorgan Chase & Co. cut Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. Cantor Fitzgerald lifted their price objective on Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $7.63.

Cipher Mining Trading Down 1.9%

NASDAQ CIFR opened at $4.06 on Wednesday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -31.23 and a beta of 2.58. The stock’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $4.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99.

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

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.