GTS Securities LLC Makes New $60,000 Investment in Cipher Mining Inc. (NASDAQ:CIFR)

GTS Securities LLC purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the 4th quarter, Holdings Channel.com reports. The fund purchased 12,949 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds have also added to or reduced their stakes in CIFR. Nisa Investment Advisors LLC lifted its stake 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 purchasing an additional 5,432 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Cipher Mining in the fourth quarter worth $29,000. KBC Group NV bought a new stake in Cipher Mining in the fourth quarter worth $46,000. Apollon Wealth Management LLC bought a new stake in Cipher Mining in the fourth quarter worth $49,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Cipher Mining during the fourth quarter valued at about $49,000. 12.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CIFR has been the subject of several recent analyst reports. Needham & Company LLC lowered their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a research note on Wednesday, May 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a research note on Thursday, May 8th. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research note on Thursday, March 13th. Finally, Cantor Fitzgerald lowered their price objective 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. 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, Cipher Mining has an average rating of “Buy” and an average target price of $8.03.

Cipher Mining Price Performance

CIFR stock opened at $3.13 on Friday. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $7.99. The company has a market cap of $1.05 billion, a P/E ratio of -24.08 and a beta of 2.61. The firm has a 50-day moving average of $2.87 and a 200 day moving average of $4.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The company had revenue of $48.96 million during the quarter, compared to the consensus estimate of $53.57 million. On average, sell-side analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current year.

Cipher Mining Company 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.