Cipher Mining Inc. (NASDAQ:CIFR) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 70.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,982 shares of the company’s stock after purchasing an additional 23,200 shares during the period. New York State Common Retirement Fund’s holdings in Cipher Mining were worth $260,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock worth $28,000 after purchasing an additional 5,432 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in Cipher Mining during the third quarter valued at approximately $33,000. KBC Group NV bought a new position in Cipher Mining during the 4th quarter worth approximately $46,000. Apollon Wealth Management LLC bought a new position in Cipher Mining during the 4th quarter worth approximately $49,000. Finally, Verition Fund Management LLC grew its position in shares of Cipher Mining by 30.7% in the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock worth $51,000 after acquiring an additional 3,086 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CIFR. Cantor Fitzgerald dropped their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a report on Wednesday, February 26th. Needham & Company LLC lowered their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price on the stock in a report on Tuesday, December 10th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cipher Mining currently has an average rating of “Buy” and an average price target of $8.31.

Cipher Mining Price Performance

NASDAQ CIFR opened at $4.16 on Thursday. Cipher Mining Inc. has a 52 week low of $2.65 and a 52 week high of $7.99. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -32.00 and a beta of 2.41. The company has a 50-day moving average price of $5.19 and a two-hundred day moving average price of $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.

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.