Private Advisor Group LLC Increases Stake in Cipher Mining Inc.

Private Advisor Group LLC has significantly increased its investment in Cipher Mining Inc. (NASDAQ:CIFR) by 90.4% during the fourth quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission (SEC). After acquiring an additional 95,400 shares, the firm now holds a total of 200,940 shares of the company’s stock, making its investment in Cipher Mining worth approximately $932,000.

Other institutional investors have also adjusted their positions in Cipher Mining. The New York State Common Retirement Fund raised its stake by 70.8% during the fourth quarter, bringing its total to 55,982 shares valued at $260,000, following the purchase of an additional 23,200 shares. Rhumbline Advisers increased their holdings by 23.1% in the same period, owning now 270,106 shares valued at roughly $1,253,000 after adding 50,630 shares. Additionally, Apollon Wealth Management LLC entered the stock with a new stake valued at $49,000, while Tobam enhanced its investment by 22.7%, now holding 18,023 shares valued at $84,000 after a gain of 3,336 shares. Finally, TRU Independence Asset Management 2 LLC boosted its shareholding by 66.9% to 56,760 shares worth $263,000 after a purchase of 22,760 shares. Overall, institutional investors control about 12.26% of Cipher Mining's stock.

Cipher Mining Stock Performance

On Friday, Cipher Mining stock opened at $4.08. The company has experienced a 12-month low of $2.65 and a high of $7.99. The stock's fifty-day and 200-day moving averages are $5.28 and $5.03, respectively. Cipher Mining currently holds a market capitalization of $1.42 billion, and it has a P/E ratio of -31.38, with a beta of 2.41. The company's current ratio and quick ratio stand at 2.57, and it has a minimal debt-to-equity ratio of 0.01.

Market Analyst Opinions

Recent analyst reports on CIFR highlight varying perspectives. Canaccord Genuity Group maintained a "buy" rating alongside a price target of $8.00 for Cipher Mining. BTIG Research raised their price target from $6.00 to $9.00 and assigned a "buy" rating on November 15. JPMorgan Chase & Co. upgraded their evaluation from "neutral" to "overweight" and set an $8.00 price target on December 10. Macquarie raised their target from $6.00 to $7.25, giving the company an "outperform" rating in early November, while HC Wainwright reiterated a "buy" rating with a target of $8.00. In total, ten research analysts have recommended purchases of the stock, complemented by two strong buy ratings, leading to a consensus rating of "Buy" and a target price of $8.31 according to MarketBeat.

Company Background

Cipher Mining Inc., founded in 2020 and located in New York City, focuses on developing and operating large-scale bitcoin mining data centers in the United States. It operates as a subsidiary of Bitfury Holding B.V.

investment, shares, stock