Hel Ved Capital Management Ltd Increases Position in Cipher Mining Inc. (NASDAQ:CIFR)

Hel Ved Capital Management Ltd increased its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 193.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 920,035 shares of the company’s stock after acquiring an additional 607,035 shares during the quarter. Cipher Mining makes up approximately 1.2% of Hel Ved Capital Management Ltd’s holdings, making the stock its 22nd biggest holding. Hel Ved Capital Management Ltd’s holdings in Cipher Mining were worth $4,269,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Cipher Mining by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock valued at $84,318,000 after purchasing an additional 1,189,756 shares during the last quarter. State Street Corp boosted its position in shares of Cipher Mining by 17.3% in the third 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 during the last quarter. Geode Capital Management LLC grew its holdings in Cipher Mining by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company’s stock valued at $26,583,000 after purchasing an additional 218,137 shares during the period. Tidal Investments LLC increased its position in Cipher Mining by 73.4% during the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after purchasing an additional 1,584,874 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cipher Mining by 33.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company’s stock worth $14,568,000 after purchasing an additional 783,509 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $2.10 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The company’s fifty day moving average price is $4.18 and its two-hundred day moving average price is $4.95. The firm has a market capitalization of $772.02 million, a P/E ratio of -16.15 and a beta of 2.47. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.99.

Analyst Ratings Changes

Several brokerages have recently issued reports on CIFR. Canaccord Genuity Group reissued a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a research note on Wednesday, February 26th. Cantor Fitzgerald dropped their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Needham & Company LLC decreased their target price on Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $8.13.

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.