AM Investment Strategies LLC Acquires Shares of 163,730 Cipher Mining Inc. (NASDAQ:CIFR)

AM Investment Strategies LLC acquired a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 163,730 shares of the company’s stock, valued at approximately $676,000. AM Investment Strategies LLC owned 0.06% of Cipher Mining at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in Cipher Mining by 107.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock valued at $2,862,000 after purchasing an additional 358,897 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Cipher Mining by 149.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 58,256 shares of the company’s stock valued at $136,000 after buying an additional 34,947 shares in the last quarter. Swiss National Bank bought a new stake in shares of Cipher Mining during the 3rd quarter valued at $255,000. Van ECK Associates Corp boosted its holdings in shares of Cipher Mining by 22.3% during the 3rd quarter. Van ECK Associates Corp now owns 1,403,549 shares of the company’s stock valued at $3,270,000 after buying an additional 256,097 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Cipher Mining by 93.4% during the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after buying an additional 7,720 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Down 4.5 %

Cipher Mining stock traded down $0.21 during mid-day trading on Thursday, reaching $4.43. The stock had a trading volume of 6,488,952 shares, compared to its average volume of 8,724,560. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -44.30 and a beta of 2.22. The company has a 50-day moving average price of $3.92 and a two-hundred day moving average price of $3.42. Cipher Mining Inc. has a one year low of $1.76 and a one year high of $5.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $43.42 million for the quarter, compared to analysts’ expectations of $35.73 million. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. On average, analysts expect that Cipher Mining Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of Cipher Mining in a report on Monday. Canaccord Genuity Group restated a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a report on Thursday, March 28th. HC Wainwright restated a “buy” rating and set a $4.50 target price on shares of Cipher Mining in a report on Tuesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $5.00 target price on shares of Cipher Mining in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.25.

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.