DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Cuts Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 24.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,547 shares of the company’s stock after selling 86,161 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.08% of Cipher Mining worth $1,227,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after acquiring an additional 5,432 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Cipher Mining during the 4th quarter valued at about $29,000. KBC Group NV purchased a new position in Cipher Mining in the fourth quarter worth about $46,000. Apollon Wealth Management LLC bought a new position in shares of Cipher Mining in the fourth quarter worth approximately $49,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CIFR shares. Needham & Company LLC lowered their price objective on Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Rosenblatt Securities restated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a research report on Wednesday, May 7th. Canaccord Genuity Group restated a “buy” rating and issued a $8.00 target price on shares of Cipher Mining in a report on Thursday. Finally, Cantor Fitzgerald decreased their target price on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cipher Mining currently has a consensus rating of “Buy” and an average price target of $8.03.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $2.98 on Monday. The stock has a 50-day moving average price of $2.80 and a 200 day moving average price of $4.69. The stock has a market capitalization of $1.11 billion, a P/E ratio of -22.92 and a beta of 2.61. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.99. 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 released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The firm had revenue of $48.96 million for the quarter, compared to analysts’ expectations of $53.57 million. Equities research analysts forecast that Cipher Mining Inc. will post -0.31 EPS 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.