Parametrica Management Ltd Invests $97,000 in Cipher Mining Inc. (NASDAQ:CIFR)

Parametrica Management Ltd bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,828 shares of the company’s stock, valued at approximately $97,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Cipher Mining by 8.8% during the third quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock worth $101,000 after purchasing an additional 2,101 shares during the period. Xponance Inc. grew its stake in Cipher Mining by 17.8% in the 4th quarter. Xponance Inc. now owns 14,151 shares of the company’s stock valued at $66,000 after buying an additional 2,140 shares during the last quarter. Verition Fund Management LLC grew its position in shares of Cipher Mining by 30.7% in the third quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock valued at $51,000 after purchasing an additional 3,086 shares during the last quarter. Tobam increased its stake in shares of Cipher Mining by 22.7% in the fourth quarter. Tobam now owns 18,023 shares of the company’s stock worth $84,000 after purchasing an additional 3,336 shares during the period. Finally, Navellier & Associates Inc. boosted its stake in Cipher Mining by 11.6% during the 4th quarter. Navellier & Associates Inc. now owns 36,274 shares of the company’s stock valued at $168,000 after purchasing an additional 3,756 shares during the period. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Trading Down 5.0 %

CIFR stock opened at $3.04 on Wednesday. Cipher Mining Inc. has a 1-year low of $2.66 and a 1-year high of $7.99. 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 business’s 50 day moving average is $4.67 and its 200-day moving average is $5.01. The firm has a market cap of $1.12 billion, a P/E ratio of -23.38 and a beta of 2.47.

Analyst Upgrades and Downgrades

Several brokerages have commented on CIFR. Needham & Company LLC dropped their price target on Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a research note on Wednesday, February 26th. Rosenblatt Securities initiated coverage on shares of Cipher Mining in a research report on Friday, March 7th. They issued a “buy” rating and a $6.50 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. Finally, Northland Securities lifted their target price on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 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. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Buy” and an average price target of $8.13.

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.