Rhumbline Advisers Buys 50,630 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Rhumbline Advisers grew its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 23.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,106 shares of the company’s stock after acquiring an additional 50,630 shares during the period. Rhumbline Advisers owned 0.08% of Cipher Mining worth $1,253,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CIFR. Tidal Investments LLC boosted its holdings in shares of Cipher Mining by 73.4% in the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock valued at $14,485,000 after purchasing an additional 1,584,874 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cipher Mining by 37.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after buying an additional 1,511,455 shares during the period. Van ECK Associates Corp grew its position in shares of Cipher Mining by 41.5% during the 3rd quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock worth $15,094,000 after buying an additional 1,144,390 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Cipher Mining during the third quarter valued at $4,029,000. Finally, State Street Corp raised its holdings in shares of Cipher Mining by 17.3% in the third 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 in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Northland Securities increased their target price on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Cantor Fitzgerald cut their price objective on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a report on Wednesday, February 26th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $8.31.

Cipher Mining Trading Up 10.9 %

Shares of NASDAQ:CIFR opened at $4.16 on Thursday. The business’s 50-day moving average is $5.19 and its 200 day moving average is $5.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. Cipher Mining Inc. has a 1 year low of $2.65 and a 1 year high of $7.99. The firm has a market capitalization of $1.50 billion, a P/E ratio of -32.00 and a beta of 2.41.

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.