Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL increased its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 37.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,637 shares of the company’s stock after acquiring an additional 6,137 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Cipher Mining were worth $105,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in shares of Cipher Mining by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock worth $101,000 after acquiring an additional 2,101 shares during the last quarter. Xponance Inc. grew its holdings in shares of Cipher Mining by 17.8% in the 4th quarter. Xponance Inc. now owns 14,151 shares of the company’s stock worth $66,000 after acquiring an additional 2,140 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Cipher Mining by 30.7% in the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock worth $51,000 after acquiring an additional 3,086 shares during the last quarter. Tobam grew its holdings in shares of Cipher Mining by 22.7% in the 4th quarter. Tobam now owns 18,023 shares of the company’s stock worth $84,000 after acquiring an additional 3,336 shares during the last quarter. Finally, Navellier & Associates Inc. grew its holdings in shares of Cipher Mining by 11.6% in the 4th quarter. Navellier & Associates Inc. now owns 36,274 shares of the company’s stock worth $168,000 after acquiring an additional 3,756 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $2.87 on Wednesday. The business’s 50-day moving average price is $4.86 and its two-hundred day moving average price is $5.02. 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 one year low of $2.66 and a one year high of $7.99. The company has a market capitalization of $1.06 billion, a P/E ratio of -22.08 and a beta of 2.47.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC decreased their target price on Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group reiterated a “buy” rating and set a $8.00 price target on shares of Cipher Mining in a report on Wednesday, February 26th. Northland Securities lifted their price target on Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Rosenblatt Securities initiated coverage on Cipher Mining in a report on Friday, March 7th. They set a “buy” rating and a $6.50 price target on the stock. Finally, Cantor Fitzgerald lowered their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and a consensus target price of $8.13.

About Cipher Mining

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.