Headlands Technologies LLC Boosts Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Headlands Technologies LLC raised its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 1,480.0% during the 4th quarter, Holdings Channel reports. The fund owned 64,685 shares of the company’s stock after purchasing an additional 60,591 shares during the period. Headlands Technologies LLC’s holdings in Cipher Mining were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC lifted its position in shares of Cipher Mining by 90.4% during the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company’s stock valued at $932,000 after buying an additional 95,400 shares during the last quarter. State Street Corp raised its stake 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 worth $26,777,000 after acquiring an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $21,327,000 after acquiring an additional 1,511,455 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cipher Mining by 33.3% in 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 acquiring an additional 783,509 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in 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 purchasing an additional 31,815 shares during the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CIFR has been the subject of a number of recent analyst reports. Rosenblatt Securities began coverage on Cipher Mining in a research report on Friday, March 7th. They issued a “buy” rating and a $6.50 price objective for the company. Cantor Fitzgerald dropped their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC cut their price target on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $8.13.

Cipher Mining Trading Down 9.1 %

Shares of Cipher Mining stock opened at $2.10 on Friday. The stock has a market cap of $772.02 million, a PE ratio of -16.15 and a beta of 2.47. The firm has a fifty day moving average price of $4.18 and a 200 day moving average price of $4.95. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $7.99. 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 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.