Cipher Mining Inc. (NASDAQ:CIFR) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 40.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,968,505 shares of the company’s stock after purchasing an additional 564,956 shares during the quarter. Van ECK Associates Corp’s holdings in Cipher Mining were worth $8,130,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in Cipher Mining by 107.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock worth $2,862,000 after buying an additional 358,897 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of Cipher Mining during the fourth quarter worth about $49,000. Swiss National Bank acquired a new position in shares of Cipher Mining in the third quarter worth about $255,000. Barclays PLC boosted its holdings in Cipher Mining by 93.4% in the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Cipher Mining by 117.4% in the fourth quarter. Vontobel Holding Ltd. now owns 126,656 shares of the company’s stock valued at $523,000 after purchasing an additional 68,400 shares during the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Stock Performance

Shares of CIFR opened at $4.14 on Friday. The stock has a market capitalization of $1.23 billion, a PE ratio of -41.40 and a beta of 2.32. The business’s fifty day moving average price is $4.00 and its 200 day moving average price is $3.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60. Cipher Mining Inc. has a 12-month low of $1.76 and a 12-month high of $5.75.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The company had revenue of $43.42 million for the quarter, compared to analysts’ expectations of $35.73 million. Equities research analysts forecast that Cipher Mining Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Canaccord Genuity Group restated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a report on Thursday, March 28th. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 price target on shares of Cipher Mining in a report on Tuesday, March 5th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a research note on Monday, April 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of Cipher Mining in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.25.

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.