Maridea Wealth Management LLC Makes New $949,000 Investment in Cipher Mining Inc. (NASDAQ:CIFR)

Maridea Wealth Management LLC purchased a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 204,611 shares of the company's stock, valued at approximately $949,000. Maridea Wealth Management LLC owned about 0.06% of Cipher Mining at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC boosted its holdings in Cipher Mining by 90.4% in the 4th quarter. Private Advisor Group LLC now owns 200,940 shares of the company's stock valued at $932,000 after purchasing an additional 95,400 shares during the last quarter. State Street Corp raised its position in shares of Cipher Mining by 17.3% during the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company's stock valued at $26,777,000 after buying an additional 1,019,949 shares during the period. Geode Capital Management LLC lifted its holdings in Cipher Mining by 37.8% in the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company's stock valued at $21,327,000 after acquiring an additional 1,511,455 shares during the last quarter. Paloma Partners Management Co purchased a new position in Cipher Mining in the third quarter worth approximately $4,029,000. Finally, Charles Schwab Investment Management Inc. increased its stake 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 worth $14,568,000 after acquiring an additional 783,509 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CIFR. Needham & Company LLC lowered their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. Rosenblatt Securities began coverage on Cipher Mining in a research report on Friday, March 7th. They set a "buy" rating and a $6.50 price target for the company. Northland Securities boosted their price objective on Cipher Mining from $6.00 to $8.50 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, HC Wainwright restated a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $8.13.

Cipher Mining Stock Up 5.3 %

Shares of Cipher Mining stock traded up $0.13 on Wednesday, reaching $2.59. 7,527,160 shares of the company were exchanged, compared to its average volume of 10,437,414. The stock's 50 day moving average price is $4.38 and its 200-day moving average price is $4.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. Cipher Mining Inc. has a 1-year low of $2.18 and a 1-year high of $7.99. The company has a market cap of $952.16 million, a P/E ratio of -19.92 and a beta of 2.47.

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.