Cipher Mining Inc. (NASDAQ:CIFR) Short Interest Update

by · The Markets Daily

Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 36,000,000 shares, an increase of 28.1% from the March 15th total of 28,100,000 shares. Approximately 14.2% of the company’s stock are sold short. Based on an average daily trading volume, of 13,920,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CIFR shares. JPMorgan Chase & Co. cut shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. Needham & Company LLC lowered their price objective 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. Rosenblatt Securities assumed coverage on Cipher Mining in a report on Friday, March 7th. They issued a “buy” rating and a $6.50 target price on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They set an “outperform” rating for the company. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $8.13.

View Our Latest Stock Analysis on Cipher Mining

Institutional Investors Weigh In On Cipher Mining

A number of large investors have recently made changes to their positions in the company. V3 Holding Ltd bought a new stake in Cipher Mining during the fourth quarter valued at about $452,713,000. Vanguard Group Inc. raised its holdings in shares of Cipher Mining by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock worth $84,318,000 after acquiring an additional 1,189,756 shares in the last quarter. State Street Corp raised its stake in Cipher Mining by 17.3% during the third quarter. State Street Corp now owns 6,919,189 shares of the company’s stock valued at $26,777,000 after purchasing an additional 1,019,949 shares in the last quarter. Invesco Ltd. raised its stake in Cipher Mining by 16.7% during the fourth quarter. Invesco Ltd. now owns 6,443,723 shares of the company’s stock valued at $29,899,000 after purchasing an additional 924,262 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Cipher Mining by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company’s stock valued at $26,583,000 after purchasing an additional 218,137 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Performance

CIFR traded up $0.04 during mid-day trading on Friday, reaching $2.37. 5,674,960 shares of the company traded hands, compared to its average volume of 10,741,248. Cipher Mining has a 52-week low of $1.86 and a 52-week high of $7.99. The company’s fifty day moving average price is $3.44 and its 200-day moving average price is $4.86. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $871.28 million, a P/E ratio of -18.23 and a beta of 2.65.

Cipher Mining Company Profile

(Get Free Report)

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.

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