Voloridge Investment Management LLC Makes New Investment in Cipher Mining Inc. (NASDAQ:CIFR)

Voloridge Investment Management LLC acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,158,969 shares of the company's stock, valued at approximately $5,378,000. Voloridge Investment Management LLC owned approximately 0.33% of Cipher Mining at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Voya Investment Management LLC lifted its holdings in Cipher Mining by 3.6% during the 4th quarter. Voya Investment Management LLC now owns 59,135 shares of the company's stock worth $274,000 after buying an additional 2,036 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Cipher Mining by 17.8% in the 4th quarter. Xponance Inc. now owns 14,151 shares of the company's stock valued at $66,000 after purchasing an additional 2,140 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Cipher Mining by 17.4% in the 4th quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock valued at $67,000 after purchasing an additional 2,149 shares during the last quarter. Tobam lifted its holdings in shares of Cipher Mining by 22.7% in the 4th quarter. Tobam now owns 18,023 shares of the company's stock valued at $84,000 after purchasing an additional 3,336 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Cipher Mining by 14.4% in the 4th quarter. Victory Capital Management Inc. now owns 29,747 shares of the company's stock valued at $138,000 after purchasing an additional 3,751 shares during the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Thursday, May 8th. JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Needham & Company LLC decreased their price objective on Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Rosenblatt Securities reiterated a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald lowered their price target on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $8.03.

Cipher Mining Trading Down 3.7%

Shares of Cipher Mining stock traded down $0.12 during trading hours on Friday, reaching $3.13. 22,956,020 shares of the company's stock were exchanged, compared to its average volume of 12,163,243. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $7.99. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -24.08 and a beta of 2.61. The company has a fifty day moving average of $2.87 and a 200-day moving average of $4.45. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01.

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 for the quarter, hitting analysts' consensus estimates of ($0.11). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The company had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. Sell-side analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

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.