Cipher Mining Inc. (NASDAQ:CIFR) Shares Purchased by Navellier & Associates Inc.

Navellier & Associates Inc. increased its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 11.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 36,274 shares of the company’s stock after acquiring an additional 3,756 shares during the quarter. Navellier & Associates Inc.’s holdings in Cipher Mining were worth $168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Cipher Mining by 17.3% during the third quarter. State Street Corp now owns 6,919,189 shares of the company’s stock worth $26,777,000 after purchasing an additional 1,019,949 shares during the last quarter. Geode Capital Management LLC increased 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 worth $21,327,000 after purchasing an additional 1,511,455 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Cipher Mining during the third quarter worth about $4,029,000. The Manufacturers Life Insurance Company increased its position in Cipher Mining by 47.4% during 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. Finally, Barclays PLC increased its position in Cipher Mining by 377.2% during the third quarter. Barclays PLC now owns 296,493 shares of the company’s stock worth $1,147,000 after purchasing an additional 234,366 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Trading Down 9.7 %

Shares of CIFR stock opened at $5.49 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The stock has a market capitalization of $1.91 billion, a P/E ratio of -42.23 and a beta of 2.41. The company has a 50 day moving average price of $5.50 and a 200 day moving average price of $5.04. Cipher Mining Inc. has a fifty-two week low of $2.65 and a fifty-two week high of $7.99.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target for the company in a research report on Tuesday, December 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and set a $7.50 price target on shares of Cipher Mining in a research report on Friday, January 31st. Cantor Fitzgerald dropped their price target 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. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating for the company. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and an average target price of $8.14.

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.