Hennion & Walsh Asset Management Inc. increased its position in shares of Cipher Mining Inc. (NASDAQ:CIFR – Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,587 shares of the company’s stock after acquiring an additional 13,690 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.05% of Cipher Mining worth $452,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of CIFR. NewEdge Advisors LLC acquired a new position in Cipher Mining during the 4th quarter worth about $29,000. KBC Group NV acquired a new position in Cipher Mining during the 4th quarter worth about $46,000. Apollon Wealth Management LLC acquired a new position in Cipher Mining during the 4th quarter worth about $49,000. Rafferty Asset Management LLC acquired a new position in Cipher Mining during the 4th quarter worth about $49,000. Finally, Captrust Financial Advisors acquired a new position in Cipher Mining during the 4th quarter worth about $54,000. Institutional investors and hedge funds own 12.26% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a research note on Thursday, May 8th. Needham & Company LLC decreased their target price on Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. HC Wainwright reissued a “buy” rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Cantor Fitzgerald increased their target price on Cipher Mining from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. downgraded Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. One research 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. According to MarketBeat.com, Cipher Mining presently has a consensus rating of “Buy” and a consensus target price of $7.63.
Cipher Mining Trading Up 10.5%
CIFR opened at $3.90 on Monday. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $7.99. The company has a market cap of $1.31 billion, a P/E ratio of -30.00 and a beta of 2.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The business’s 50-day simple moving average is $2.98 and its 200-day simple moving average is $4.32.
Cipher Mining (NASDAQ:CIFR – Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The business had revenue of $48.96 million for the quarter, compared to the consensus estimate of $53.57 million. As a group, equities research analysts expect that Cipher Mining Inc. will post -0.31 EPS 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.
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