SRN Advisors LLC Takes Position in Cipher Mining Inc. (NASDAQ:CIFR)

SRN Advisors LLC purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 200,000 shares of the company’s stock, valued at approximately $928,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Cipher Mining by 19.8% during the 4th quarter. Bank of New York Mellon Corp now owns 596,507 shares of the company’s stock worth $2,768,000 after purchasing an additional 98,382 shares during the period. Navellier & Associates Inc. increased its holdings 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 during the last quarter. Matauro LLC bought a new stake in Cipher Mining in the fourth quarter worth about $154,000. Private Advisor Group LLC boosted its stake in Cipher Mining by 90.4% in the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company’s stock valued at $932,000 after acquiring an additional 95,400 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Cipher Mining by 70.8% during the 4th quarter. New York State Common Retirement Fund now owns 55,982 shares of the company’s stock valued at $260,000 after acquiring an additional 23,200 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Up 2.0 %

CIFR stock opened at $4.18 on Thursday. Cipher Mining Inc. has a twelve month low of $2.65 and a twelve month high of $7.99. The firm has a market capitalization of $1.45 billion, a PE ratio of -32.15 and a beta of 2.41. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $5.35 and a two-hundred day simple moving average of $5.04.

Analyst Ratings Changes

CIFR has been the topic of a number of research reports. BTIG Research lifted their price target on shares of Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Northland Securities boosted their target price on Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Cipher Mining in a research note on Wednesday. Keefe, Bruyette & Woods began coverage on Cipher Mining in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research report on Tuesday, December 10th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target 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.