Cipher Mining Inc. (NASDAQ:CIFR – Get Rating) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 7,060,000 shares, an increase of 6.8% from the February 13th total of 6,610,000 shares. Approximately 18.2% of the company’s shares are short sold. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is presently 6.0 days.
Institutional Trading of Cipher Mining
Hedge funds and other institutional investors have recently made changes to their positions in the business. Kepos Capital LP acquired a new stake in shares of Cipher Mining in the third quarter valued at approximately $109,000. Shaolin Capital Management LLC acquired a new stake in shares of Cipher Mining in the third quarter valued at approximately $79,000. Empowered Funds LLC bought a new position in shares of Cipher Mining in the third quarter valued at $144,000. Van ECK Associates Corp increased its holdings in Cipher Mining by 30.5% during the third quarter. Van ECK Associates Corp now owns 544,129 shares of the company’s stock worth $686,000 after buying an additional 127,088 shares during the last quarter. Finally, UBS Group AG raised its position in Cipher Mining by 236.7% during the first quarter. UBS Group AG now owns 20,601 shares of the company’s stock worth $75,000 after acquiring an additional 14,483 shares in the last quarter. 10.80% of the stock is currently owned by institutional investors and hedge funds.
Cipher Mining Stock Performance
Shares of CIFR opened at $1.83 on Thursday. Cipher Mining has a twelve month low of $0.38 and a twelve month high of $3.94. The firm’s 50 day moving average price is $1.42 and its two-hundred day moving average price is $1.18. The firm has a market cap of $453.02 million, a P/E ratio of -11.44 and a beta of 2.09.
Analysts Set New Price Targets
Cipher Mining Company Profile
Cipher Mining Inc, a technology company, operates in the bitcoin mining ecosystem in the United States. It engages in developing and growing a cryptocurrency mining business that specializes in bitcoin. The company was incorporated in 2021 and is based in New York, New York.
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