Van ECK Associates Corp Has $8.13 Million Position in Cipher Mining Inc. (NASDAQ:CIFR)

Van ECK Associates Corp boosted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,968,505 shares of the company's stock after acquiring an additional 564,956 shares during the period. Van ECK Associates Corp owned 0.77% of Cipher Mining worth $8,130,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its stake in shares of Cipher Mining by 107.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company's stock valued at $2,862,000 after buying an additional 358,897 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Cipher Mining in the fourth quarter worth about $49,000. Swiss National Bank purchased a new stake in shares of Cipher Mining during the third quarter worth about $255,000. Barclays PLC raised its stake in Cipher Mining by 93.4% during the 3rd quarter. Barclays PLC now owns 15,982 shares of the company's stock valued at $37,000 after purchasing an additional 7,720 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Cipher Mining by 117.4% in the 4th quarter. Vontobel Holding Ltd. now owns 126,656 shares of the company's stock worth $523,000 after purchasing an additional 68,400 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CIFR has been the topic of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 target price on shares of Cipher Mining in a report on Monday, April 22nd. Canaccord Genuity Group reiterated a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a report on Thursday, March 28th. HC Wainwright reaffirmed a "buy" rating and set a $4.50 target price on shares of Cipher Mining in a research report on Tuesday, March 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $5.00 price target on shares of Cipher Mining in a report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of "Moderate Buy" and a consensus target price of $5.25.

Cipher Mining Stock Up 5.3 %

Cipher Mining stock traded up $0.21 during mid-day trading on Friday, reaching $4.14. 4,614,167 shares of the company were exchanged, compared to its average volume of 6,087,957. Cipher Mining Inc. has a 12-month low of $1.76 and a 12-month high of $5.75. The business has a fifty day moving average of $4.00 and a 200 day moving average of $3.49. The firm has a market cap of $1.23 billion, a P/E ratio of -41.40 and a beta of 2.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.60 and a current ratio of 4.60.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. The company had revenue of $43.42 million for the quarter, compared to the consensus estimate of $35.73 million. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. Research analysts anticipate that Cipher Mining Inc. will post -0.15 earnings per share for the current fiscal 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.