Voloridge Investment Management LLC Takes $5.38 Million Position in Cipher Mining Inc. (NASDAQ:CIFR)

Voloridge Investment Management LLC purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,158,969 shares of the company's stock, valued at approximately $5,378,000. Voloridge Investment Management LLC owned 0.33% of Cipher Mining as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CIFR. Vennlight Capital Management LP purchased a new position in Cipher Mining in the fourth quarter valued at about $1,370,000. Vident Advisory LLC raised its position in Cipher Mining by 29.4% in the fourth quarter. Vident Advisory LLC now owns 4,250,078 shares of the company's stock valued at $19,720,000 after purchasing an additional 965,648 shares during the period. Two Sigma Investments LP raised its position in Cipher Mining by 31.4% in the fourth quarter. Two Sigma Investments LP now owns 2,857,401 shares of the company's stock valued at $13,258,000 after purchasing an additional 682,940 shares during the period. Tidal Investments LLC grew its stake in shares of Cipher Mining by 3.9% during the fourth quarter. Tidal Investments LLC now owns 3,887,949 shares of the company's stock valued at $18,040,000 after acquiring an additional 145,018 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Cipher Mining during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Rosenblatt Securities restated a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, May 7th. Needham & Company LLC decreased their price target on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a research note on Thursday, March 13th. Finally, Cantor Fitzgerald decreased their price target on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $8.03.

Cipher Mining Trading Down 3.7%

NASDAQ CIFR traded down $0.12 on Friday, hitting $3.13. 22,956,020 shares of the stock were exchanged, compared to its average volume of 12,175,361. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $7.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -24.08 and a beta of 2.61. The company's 50-day moving average price is $2.87 and its two-hundred day moving average price is $4.43.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) 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 business had revenue of $48.96 million for the quarter, compared to analysts' expectations of $53.57 million. Research analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current year.

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.