Paloma Partners Management Co Sells 941,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Paloma Partners Management Co cut its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 90.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after selling 941,000 shares during the quarter. Paloma Partners Management Co's holdings in Cipher Mining were worth $464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Voya Investment Management LLC grew its position 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 acquiring an additional 2,036 shares during the last quarter. Xponance Inc. grew its stake in shares of Cipher Mining by 17.8% in the fourth quarter. Xponance Inc. now owns 14,151 shares of the company's stock worth $66,000 after purchasing an additional 2,140 shares during the last quarter. Russell Investments Group Ltd. raised its position in Cipher Mining by 17.4% during the 4th quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock worth $67,000 after purchasing an additional 2,149 shares during the last quarter. Tobam raised its position in Cipher Mining by 22.7% during the 4th quarter. Tobam now owns 18,023 shares of the company's stock worth $84,000 after purchasing an additional 3,336 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Cipher Mining by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 29,747 shares of the company's stock worth $138,000 after buying an additional 3,751 shares during the period. Institutional investors own 12.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CIFR shares. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a research report on Wednesday, January 8th. They set an "outperform" rating for the company. HC Wainwright restated a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a research report on Wednesday, February 26th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Wednesday, February 26th. Cantor Fitzgerald cut their target price on Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities initiated coverage on shares of Cipher Mining in a report on Friday, March 7th. They issued a "buy" rating and a $6.50 price target for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cipher Mining has an average rating of "Buy" and an average target price of $8.13.

Cipher Mining Stock Performance

Shares of CIFR stock traded up $0.04 during trading on Friday, hitting $3.16. The company's stock had a trading volume of 13,023,082 shares, compared to its average volume of 11,026,351. 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 cap of $1.17 billion, a PE ratio of -24.31 and a beta of 2.65. The business has a fifty day moving average of $2.90 and a 200-day moving average of $4.77. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99.

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.