AM Investment Strategies LLC Invests $676,000 in Cipher Mining Inc. (NASDAQ:CIFR)

AM Investment Strategies LLC bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the fourth quarter, HoldingsChannel reports. The fund bought 163,730 shares of the company’s stock, valued at approximately $676,000.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in Cipher Mining by 107.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock valued at $2,862,000 after buying an additional 358,897 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Cipher Mining by 149.9% in the third 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 during the last quarter. Swiss National Bank purchased a new stake in Cipher Mining in the third quarter valued at approximately $255,000. Van ECK Associates Corp boosted its position in Cipher Mining by 22.3% in the third 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 during the last quarter. Finally, Barclays PLC boosted its position in Cipher Mining by 93.4% in the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after buying an additional 7,720 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

NASDAQ:CIFR traded down $0.21 during trading hours on Thursday, reaching $4.43. The company had a trading volume of 6,488,952 shares, compared to its average volume of 8,724,560. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60. The firm has a market cap of $1.31 billion, a PE ratio of -44.30 and a beta of 2.22. The business’s 50 day moving average price is $3.92 and its 200-day moving average price is $3.42. Cipher Mining Inc. has a 1-year low of $1.76 and a 1-year high of $5.75.

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

Analysts Set New Price Targets

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

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.