Central Asset Investments & Management Holdings HK Ltd Buys Shares of 44,000 Cipher Mining Inc. (NASDAQ:CIFR)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,000 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp increased its stake in Cipher Mining by 17.3% in 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 raised its holdings in shares of 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 acquiring an additional 1,511,455 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Cipher Mining by 41.5% during the third quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock worth $15,094,000 after acquiring an additional 1,144,390 shares in the last quarter. Tidal Investments LLC boosted its position in Cipher Mining by 73.4% during the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock valued at $14,485,000 after purchasing an additional 1,584,874 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Cipher Mining by 71.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock valued at $9,118,000 after purchasing an additional 977,963 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Stock Up 2.0 %

Cipher Mining stock opened at $4.18 on Thursday. 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 fifty-two week low of $2.65 and a fifty-two week high of $7.99. The firm has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $5.04. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -32.15 and a beta of 2.41.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CIFR. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research report on Tuesday, December 10th. Needham & Company LLC decreased their target price on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. Cantor Fitzgerald cut their price target on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Wednesday. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $8.31.

Cipher Mining 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.