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

Hel Ved Capital Management Ltd grew its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 193.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 920,035 shares of the company’s stock after buying an additional 607,035 shares during the period. Cipher Mining accounts for 1.2% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 22nd largest holding. Hel Ved Capital Management Ltd owned about 0.26% of Cipher Mining worth $4,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC grew its holdings in shares of Cipher Mining by 90.4% during the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company’s stock worth $932,000 after purchasing an additional 95,400 shares during the last quarter. State Street Corp increased its holdings in shares of Cipher Mining by 17.3% in the 3rd 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 during the period. Geode Capital Management LLC raised its position 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 valued at $21,327,000 after purchasing an additional 1,511,455 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cipher Mining by 33.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,139,553 shares of the company’s stock valued at $14,568,000 after buying an additional 783,509 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Cipher Mining by 47.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company’s stock valued at $383,000 after acquiring an additional 31,815 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Price Performance

CIFR stock opened at $2.10 on Friday. The stock’s 50 day moving average price is $4.18 and its 200 day moving average price is $4.95. The firm has a market cap of $772.02 million, a P/E ratio of -16.15 and a beta of 2.47. 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.

Wall Street Analysts Forecast Growth

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