Tidal Investments LLC Has $18.04 Million Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Tidal Investments LLC increased its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,887,949 shares of the company's stock after purchasing an additional 145,018 shares during the quarter. Tidal Investments LLC owned about 1.12% of Cipher Mining worth $18,040,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CIFR. Nisa Investment Advisors LLC boosted its stake in Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock valued at $28,000 after acquiring an additional 5,432 shares during the last quarter. NewEdge Advisors LLC bought a new position in Cipher Mining in the fourth quarter valued at approximately $29,000. KBC Group NV bought a new position in Cipher Mining in the fourth quarter valued at approximately $46,000. Apollon Wealth Management LLC bought a new position in Cipher Mining in the fourth quarter valued at approximately $49,000. Finally, Rafferty Asset Management LLC bought a new position in Cipher Mining in the fourth quarter valued at approximately $49,000. 12.26% of the stock is owned by institutional investors.

Cipher Mining Stock Down 2.8%

CIFR stock traded down $0.10 during midday trading on Friday, hitting $3.47. The company's stock had a trading volume of 15,830,404 shares, compared to its average volume of 11,945,212. 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 twelve month low of $1.86 and a twelve month high of $7.99. The company's fifty day moving average price is $2.84 and its 200 day moving average price is $4.56. The stock has a market capitalization of $1.29 billion, a P/E ratio of -26.69 and a beta of 2.61.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The firm had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. As a group, equities research analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CIFR shares. Cantor Fitzgerald reduced 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. Rosenblatt Securities reissued a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Canaccord Genuity Group reissued a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a research report on Thursday, May 8th. Finally, Needham & Company LLC dropped their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $8.03.

Cipher Mining Company 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.