Helix Partners Management LP bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,246,942 shares of the company's stock, valued at approximately $10,426,000. Cipher Mining accounts for 1.8% of Helix Partners Management LP's holdings, making the stock its 5th largest position. Helix Partners Management LP owned about 0.65% of Cipher Mining as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC grew its position in Cipher Mining by 90.4% in the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company's stock worth $932,000 after acquiring an additional 95,400 shares in the last quarter. State Street Corp boosted its holdings in Cipher Mining by 17.3% in the third quarter. State Street Corp now owns 6,919,189 shares of the company's stock worth $26,777,000 after purchasing an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC increased its position in Cipher Mining by 37.8% during the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company's stock worth $21,327,000 after buying an additional 1,511,455 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cipher Mining by 33.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company's stock valued at $14,568,000 after buying an additional 783,509 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Cipher Mining by 47.4% in the third quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company's stock worth $383,000 after buying an additional 31,815 shares during the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.
Cipher Mining Price Performance
Shares of Cipher Mining stock traded down $0.21 during mid-day trading on Friday, reaching $2.10. 20,697,394 shares of the stock were exchanged, compared to its average volume of 10,555,791. The company has a market cap of $772.02 million, a price-to-earnings ratio of -16.15 and a beta of 2.65. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $7.99. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $4.18 and a 200 day simple moving average of $4.97.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on CIFR shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. Rosenblatt Securities began coverage on shares of Cipher Mining in a report on Friday, March 7th. They issued a "buy" rating and a $6.50 target price on the stock. Cantor Fitzgerald cut their target price on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered Cipher Mining from an "overweight" rating to a "neutral" rating in a research note on Thursday, March 13th. Finally, HC Wainwright restated a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cipher Mining currently has an average rating of "Buy" and a consensus target price of $8.13.
View Our Latest Stock Analysis on CIFR
About Cipher Mining
(
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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