Van ECK Associates Corp grew its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR – Free Report) by 22.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,403,549 shares of the company’s stock after purchasing an additional 256,097 shares during the quarter. Van ECK Associates Corp’s holdings in Cipher Mining were worth $3,270,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in CIFR. Vontobel Holding Ltd. increased its stake in shares of Cipher Mining by 149.9% during the third quarter. Vontobel Holding Ltd. now owns 58,256 shares of the company’s stock valued at $136,000 after acquiring an additional 34,947 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Cipher Mining during the second quarter valued at approximately $103,000. Arizona State Retirement System acquired a new position in shares of Cipher Mining during the third quarter valued at approximately $33,000. Mirae Asset Global Investments Co. Ltd. grew its position in Cipher Mining by 221.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 968,670 shares of the company’s stock worth $2,770,000 after buying an additional 667,152 shares during the last quarter. Finally, Mint Tower Capital Management B.V. grew its position in Cipher Mining by 9.6% in the second quarter. Mint Tower Capital Management B.V. now owns 573,475 shares of the company’s stock worth $1,640,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 6.70% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of Cipher Mining from $6.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Canaccord Genuity Group restated a “buy” rating and issued a $5.50 price target on shares of Cipher Mining in a research report on Thursday, December 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.
Cipher Mining Trading Up 16.4 %
NASDAQ CIFR opened at $3.90 on Tuesday. The firm’s 50 day moving average price is $3.27 and its two-hundred day moving average price is $3.08. The stock has a market cap of $993.17 million, a price-to-earnings ratio of -10.83 and a beta of 2.12. Cipher Mining Inc. has a twelve month low of $1.26 and a twelve month high of $5.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.40 and a current ratio of 1.40.
Cipher Mining Company Profile
Cipher Mining Inc, a technology company, develops and operates 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 is a subsidiary of Bitfury Holding B.V.
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