437,247 Shares in Cipher Mining Inc. (NASDAQ:CIFR) Bought by Federated Hermes Inc.

Federated Hermes Inc. purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, Holdings Channel.com reports. The fund purchased 437,247 shares of the company’s stock, valued at approximately $2,029,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xponance Inc. boosted its position in shares of Cipher Mining by 17.8% during the 4th quarter. Xponance Inc. now owns 14,151 shares of the company’s stock valued at $66,000 after acquiring an additional 2,140 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Cipher Mining by 17.4% during the fourth quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company’s stock valued at $67,000 after purchasing an additional 2,149 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Cipher Mining by 30.7% in the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock valued at $51,000 after purchasing an additional 3,086 shares during the period. Tobam raised its holdings in shares of Cipher Mining by 22.7% in the 4th quarter. Tobam now owns 18,023 shares of the company’s stock worth $84,000 after buying an additional 3,336 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Cipher Mining by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 29,747 shares of the company’s stock worth $138,000 after buying an additional 3,751 shares during the period. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Up 9.0 %

NASDAQ CIFR opened at $2.42 on Monday. The stock has a market capitalization of $889.66 million, a P/E ratio of -18.61 and a beta of 2.65. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The stock has a fifty day moving average of $3.79 and a 200-day moving average of $4.92.

Analyst Ratings Changes

CIFR has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research report on Wednesday, February 26th. Rosenblatt Securities assumed coverage on shares of Cipher Mining in a research report on Friday, March 7th. They set a “buy” rating and a $6.50 target price for the company. Cantor Fitzgerald reduced their price target on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a report on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.13.

About Cipher Mining

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.