Private Advisor Group LLC Increases Investment in Cipher Mining Inc.

Private Advisor Group LLC has significantly increased its investment in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 90.4% during the fourth quarter. According to their latest Form 13F filing with the Securities and Exchange Commission (SEC), the firm now owns a total of 200,940 shares after purchasing an additional 95,400 shares within that period.

As of this filing, Private Advisor Group LLC holds approximately 0.06% of Cipher Mining, which is valued at $932,000.

Other Institutional Investments

In addition to Private Advisor Group, several other institutional investors have also adjusted their holdings in Cipher Mining. The New York State Common Retirement Fund raised its stake by 70.8% in the fourth quarter, acquiring 23,200 additional shares, resulting in a total of 55,982 shares valued at $260,000.

Meanwhile, Rhumbline Advisers increased its investment in Cipher Mining by 23.1%, owning 270,106 shares after an additional purchase of 50,630 shares, worth $1,253,000. Apollon Wealth Management LLC initiated a new stake valued at $49,000. Furthermore, Tobam raised its holdings by 22.7%, owning 18,023 shares valued at $84,000 after buying an additional 3,336 shares. Lastly, TRU Independence Asset Management 2 LLC increased its stake by 66.9%, owning 56,760 shares worth $263,000 after acquiring 22,760 additional shares. Currently, institutional investors possess 12.26% of Cipher Mining's stock.

Cipher Mining Stock Performance

At the market open on Friday, Cipher Mining shares were priced at $4.08. The company has seen a 12-month low of $2.65 and a high of $7.99. The fifty-day moving average price stands at $5.28, while the two-hundred-day moving average price is $5.03. Cipher Mining has a market capitalization of $1.42 billion, a P/E ratio of -31.38, and a beta of 2.41. Additionally, the firm maintains a current ratio of 2.57, a quick ratio of 2.57, and a debt-to-equity ratio of 0.01.

Analysts' Opinions

Cipher Mining has attracted attention from various analysts recently. Canaccord Genuity Group has reiterated a "buy" rating, with a price target of $8.00. Meanwhile, BTIG Research has raised its target from $6.00 to $9.00, maintaining a "buy" rating as well. Furthermore, JPMorgan Chase & Co. upgraded its rating from "neutral" to "overweight" with a price objective of $8.00. Macquarie increased its price target from $6.00 to $7.25, classifying the stock as "outperform." HC Wainwright also maintained a "buy" rating with an $8.00 target price. Overall, ten research analysts have given Cipher Mining a "buy" rating, while two have assigned a "strong buy" rating, leading to a consensus rating of "Buy" and a consensus target price of $8.31 according to MarketBeat.

About Cipher Mining

Cipher Mining Inc. engages in the creation and management of large-scale Bitcoin mining data centers within the United States. The company was incorporated in 2020 and is headquartered in New York, New York. Cipher Mining operates as a subsidiary of Bitfury Holding B.V.

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