Helix Partners Management LP Takes $10.43 Million Position in Cipher Mining Inc. (NASDAQ:CIFR)

Helix Partners Management LP bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,246,942 shares of the company's stock, valued at approximately $10,426,000. Cipher Mining comprises about 1.8% of Helix Partners Management LP's investment portfolio, making the stock its 5th biggest holding. Helix Partners Management LP owned approximately 0.65% of Cipher Mining at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock valued at $28,000 after purchasing an additional 5,432 shares during the last quarter. KBC Group NV bought a new stake in shares of Cipher Mining in the fourth quarter valued at approximately $46,000. Apollon Wealth Management LLC purchased a new stake in shares of Cipher Mining during the 4th quarter valued at approximately $49,000. FNY Investment Advisers LLC purchased a new stake in shares of Cipher Mining during the 4th quarter valued at approximately $51,000. Finally, Verition Fund Management LLC boosted its holdings in 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 buying an additional 3,086 shares during the period. Institutional investors own 12.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Cantor Fitzgerald decreased their price objective on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Canaccord Genuity Group restated a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research note on Wednesday, February 26th. Rosenblatt Securities started coverage on Cipher Mining in a research report on Friday, March 7th. They set a "buy" rating and a $6.50 price target on the stock. Finally, Needham & Company LLC lowered their price target 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 research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cipher Mining currently has an average rating of "Buy" and a consensus price target of $8.13.

Cipher Mining Price Performance

Shares of CIFR traded down $0.03 during midday trading on Tuesday, reaching $2.21. The stock had a trading volume of 4,991,500 shares, compared to its average volume of 10,591,532. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $810.62 million, a price-to-earnings ratio of -16.96 and a beta of 2.65. The company's 50-day moving average is $4.13 and its 200 day moving average is $4.98. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.99.

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.