Senator Investment Group LP Invests $1.04 Million in Cipher Mining Inc. (NASDAQ:CIFR)

Senator Investment Group LP purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 224,045 shares of the company's stock, valued at approximately $1,040,000. Senator Investment Group LP owned 0.06% of Cipher Mining at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CIFR. Nisa Investment Advisors LLC raised its position in Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock worth $28,000 after acquiring an additional 5,432 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Cipher Mining in the fourth quarter valued at approximately $29,000. KBC Group NV purchased a new position in shares of Cipher Mining during the 4th quarter worth $46,000. Apollon Wealth Management LLC acquired a new stake in Cipher Mining in the 4th quarter worth about $49,000. Finally, FNY Investment Advisers LLC purchased a new stake in Cipher Mining in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Price Performance

Shares of CIFR traded up $0.08 during midday trading on Friday, reaching $3.08. The stock had a trading volume of 11,973,714 shares, compared to its average volume of 10,896,131. 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 $1.14 billion, a P/E ratio of -23.69 and a beta of 2.65. The firm's 50 day moving average price is $3.13 and its 200-day moving average price is $4.81. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99.

Wall Street Analyst Weigh In

Several brokerages have commented on CIFR. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research note on Wednesday, January 8th. They set an "outperform" rating for the company. Needham & Company LLC lowered their target price 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. Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Wednesday, February 26th. One equities 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 company's stock. According to MarketBeat, Cipher Mining presently has a consensus rating of "Buy" and a consensus price target of $8.13.

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.