Senator Investment Group LP Purchases Shares of 224,045 Cipher Mining Inc. (NASDAQ:CIFR)

Senator Investment Group LP bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 224,045 shares of the company's stock, valued at approximately $1,040,000. Senator Investment Group LP owned 0.06% of Cipher Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Xponance Inc. boosted its stake in shares of Cipher Mining by 17.8% in the fourth quarter. Xponance Inc. now owns 14,151 shares of the company's stock valued at $66,000 after buying an additional 2,140 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Cipher Mining by 17.4% during the 4th quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock worth $67,000 after purchasing an additional 2,149 shares in the last quarter. Tobam increased its position in shares of Cipher Mining by 22.7% in the fourth quarter. Tobam now owns 18,023 shares of the company's stock worth $84,000 after purchasing an additional 3,336 shares during the period. Victory Capital Management Inc. lifted its position in Cipher Mining by 14.4% during the fourth quarter. Victory Capital Management Inc. now owns 29,747 shares of the company's stock worth $138,000 after purchasing an additional 3,751 shares during the period. Finally, Navellier & Associates Inc. grew its stake in Cipher Mining by 11.6% during the fourth quarter. Navellier & Associates Inc. now owns 36,274 shares of the company's stock worth $168,000 after buying an additional 3,756 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CIFR has been the subject of several analyst reports. Cantor Fitzgerald dropped 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. HC Wainwright restated a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. 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 objective for the company. Finally, JPMorgan Chase & Co. cut Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. One investment 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. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $8.13.

Cipher Mining Trading Up 2.7 %

Shares of NASDAQ CIFR traded up $0.08 during trading on Friday, reaching $3.08. The company had a trading volume of 11,968,988 shares, compared to its average volume of 10,878,673. The stock has a market cap of $1.13 billion, a P/E ratio of -23.69 and a beta of 2.65. The company's fifty day moving average price is $3.18 and its 200-day moving average price is $4.82. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.99.

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.