Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report)’s stock price dropped 4.5% on Thursday . The company traded as low as $5.03 and last traded at $5.09. Approximately 10,133,942 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 9,387,331 shares. The stock had previously closed at $5.33.
Analyst Ratings Changes
CIFR has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and issued a $4.50 target price on shares of Cipher Mining in a research note on Tuesday, March 5th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Cipher Mining in a research report on Monday, March 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price objective on shares of Cipher Mining in a research report on Thursday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $5.50 price objective on shares of Cipher Mining in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.25.
Check Out Our Latest Research Report on Cipher Mining
Cipher Mining Stock Performance
Hedge Funds Weigh In On Cipher Mining
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Cipher Mining by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 3,492,636 shares of the company’s stock worth $14,425,000 after buying an additional 177,676 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cipher Mining by 18.5% during the 2nd quarter. BlackRock Inc. now owns 2,433,554 shares of the company’s stock valued at $6,960,000 after purchasing an additional 379,931 shares in the last quarter. First Financial Bankshares Inc bought a new position in shares of Cipher Mining during the 4th quarter valued at about $9,901,000. State Street Corp lifted its holdings in shares of Cipher Mining by 208.0% during the 2nd quarter. State Street Corp now owns 2,197,387 shares of the company’s stock valued at $6,285,000 after purchasing an additional 1,483,836 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Cipher Mining by 40.3% during the 4th quarter. Van ECK Associates Corp now owns 1,968,505 shares of the company’s stock valued at $8,130,000 after purchasing an additional 564,956 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.
Cipher Mining Company 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.
Recommended Stories
- Five stocks we like better than Cipher Mining
- Retail Stocks Investing, Explained
- 3 Value Stocks Too Small For Buffett’s Portfolio
- Business Services Stocks Investing
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Cipher Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cipher Mining and related companies with MarketBeat.com's FREE daily email newsletter.