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

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, HoldingsChannel reports. The fund purchased 44,000 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC lifted its stake in shares of Cipher Mining by 73.4% in the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock valued at $14,485,000 after buying an additional 1,584,874 shares during the period. Geode Capital Management LLC lifted its position in shares of Cipher Mining by 37.8% in the 3rd 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 during the period. Van ECK Associates Corp grew its holdings in shares of Cipher Mining by 41.5% during the 3rd quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock worth $15,094,000 after purchasing an additional 1,144,390 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Cipher Mining during the 3rd quarter worth approximately $4,029,000. Finally, State Street Corp increased its holdings 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. 12.26% of the stock is owned by institutional investors.

Cipher Mining Price Performance

Shares of CIFR stock opened at $4.18 on Thursday. The firm’s 50 day moving average price is $5.35 and its two-hundred day moving average price is $5.04. The stock has a market cap of $1.45 billion, a PE ratio of -32.15 and a beta of 2.41. Cipher Mining Inc. has a 52-week low of $2.65 and a 52-week high of $7.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a report on Wednesday. Cantor Fitzgerald decreased their target price on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. BTIG Research lifted their price target on Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a report on Friday, November 15th. Northland Securities raised their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reduced their target price on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $8.31.

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.