Phoenix Financial Ltd. Increases Stock Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Phoenix Financial Ltd. increased its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 58.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 83,962 shares of the company’s stock after acquiring an additional 30,890 shares during the period. Phoenix Financial Ltd.’s holdings in Cipher Mining were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CIFR. Helix Partners Management LP acquired a new position in shares of Cipher Mining during the fourth quarter worth $10,426,000. Tidal Investments LLC increased its stake in Cipher Mining by 73.4% during the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after buying an additional 1,584,874 shares during the period. Geode Capital Management LLC lifted its holdings in Cipher Mining by 37.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after buying an additional 1,511,455 shares in the last quarter. Vanguard Group Inc. boosted its position in Cipher Mining by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock valued at $84,318,000 after buying an additional 1,189,756 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Cipher Mining by 17.3% during the third quarter. State Street Corp now owns 6,919,189 shares of the company’s stock valued at $26,777,000 after acquiring an additional 1,019,949 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CIFR. Canaccord Genuity Group reiterated a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. Rosenblatt Securities started coverage on shares of Cipher Mining in a research report on Friday, March 7th. They set a “buy” rating and a $6.50 price target for the company. Cantor Fitzgerald cut their price target on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Needham & Company LLC reduced their price objective 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 investment 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 company. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and an average price target of $8.13.

Cipher Mining Stock Up 9.0 %

Shares of NASDAQ:CIFR opened at $2.42 on Friday. The company’s fifty day moving average is $3.79 and its two-hundred day moving average is $4.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.99. The stock has a market capitalization of $889.66 million, a price-to-earnings ratio of -18.61 and a beta of 2.65.

Cipher Mining 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.