Cipher Mining Inc. (NASDAQ:CIFR) Shares Bought by Navellier & Associates Inc.

Navellier & Associates Inc. boosted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,274 shares of the company’s stock after buying an additional 3,756 shares during the quarter. Navellier & Associates Inc.’s holdings in Cipher Mining were worth $168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Matauro LLC acquired a new stake in Cipher Mining during the fourth quarter valued at $154,000. Private Advisor Group LLC grew its position in Cipher Mining by 90.4% during the fourth quarter. Private Advisor Group LLC now owns 200,940 shares of the company’s stock valued at $932,000 after buying an additional 95,400 shares during the period. New York State Common Retirement Fund grew its position in Cipher Mining by 70.8% during the fourth quarter. New York State Common Retirement Fund now owns 55,982 shares of the company’s stock valued at $260,000 after buying an additional 23,200 shares during the period. Rhumbline Advisers grew its position in Cipher Mining by 23.1% during the fourth quarter. Rhumbline Advisers now owns 270,106 shares of the company’s stock valued at $1,253,000 after buying an additional 50,630 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in Cipher Mining during the fourth quarter valued at $49,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $5.49 on Monday. The company’s 50-day moving average price is $5.50 and its 200-day moving average price is $5.04. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.91 billion, a P/E ratio of -42.23 and a beta of 2.41. Cipher Mining Inc. has a twelve month low of $2.65 and a twelve month high of $7.99.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 price objective on shares of Cipher Mining in a report on Friday, January 31st. Macquarie increased their price objective on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a report on Tuesday, December 10th. Finally, Northland Securities increased their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cipher Mining currently has an average rating of “Buy” and an average target price of $8.14.

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.