MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 51,288 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,781,475 shares of the company’s stock after selling 51,288 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.51% of Cipher Mining worth $8,266,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its stake in Cipher Mining by 33,025.4% during the fourth quarter. Lazard Asset Management LLC now owns 22,194 shares of the company’s stock valued at $101,000 after buying an additional 22,127 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Cipher Mining during the fourth quarter valued at $4,191,000. Driehaus Capital Management LLC purchased a new position in Cipher Mining during the fourth quarter valued at $9,439,000. Captrust Financial Advisors purchased a new position in Cipher Mining during the fourth quarter valued at $54,000. Finally, Bank of America Corp DE raised its stake in Cipher Mining by 47.3% during the fourth quarter. Bank of America Corp DE now owns 182,898 shares of the company’s stock valued at $849,000 after buying an additional 58,742 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Up 21.8%

Cipher Mining stock opened at $3.86 on Friday. The stock has a market cap of $1.43 billion, a PE ratio of -29.69 and a beta of 2.61. 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 one year low of $1.86 and a one year high of $7.99. The stock has a fifty day moving average of $2.78 and a 200 day moving average of $4.63.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $48.96 million during the quarter, compared to analysts’ expectations of $53.57 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. As a group, sell-side analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Cantor Fitzgerald decreased their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut Cipher Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 13th. Needham & Company LLC decreased their price target on Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group restated a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Thursday, May 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and an average price target of $8.03.

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.