Cipher Mining (NASDAQ:CIFR) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Cipher Mining (NASDAQ:CIFR – Get Rating) in a research note published on Thursday, Benzinga reports. They currently have a $3.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. Cantor Fitzgerald began coverage on shares of Cipher Mining in a research report on Monday, March 13th. They issued a buy rating and a $3.00 price target for the company. Needham & Company LLC began coverage on shares of Cipher Mining in a research report on Tuesday, February 21st. They issued a buy rating and a $2.70 price target for the company.

Cipher Mining Price Performance

CIFR opened at $2.32 on Thursday. Cipher Mining has a twelve month low of $0.38 and a twelve month high of $3.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.18 and a quick ratio of 3.56. The firm has a 50 day moving average price of $1.48 and a 200-day moving average price of $1.18.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently modified their holdings of CIFR. Vanguard Group Inc. boosted its position in shares of Cipher Mining by 103.8% during the first quarter. Vanguard Group Inc. now owns 1,893,078 shares of the company’s stock worth $6,891,000 after acquiring an additional 964,326 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Cipher Mining by 1,738.2% during the fourth quarter. Renaissance Technologies LLC now owns 645,200 shares of the company’s stock worth $361,000 after acquiring an additional 610,100 shares during the last quarter. Vident Investment Advisory LLC boosted its position in shares of Cipher Mining by 2,630.5% during the first quarter. Vident Investment Advisory LLC now owns 392,188 shares of the company’s stock worth $1,428,000 after acquiring an additional 377,825 shares during the last quarter. State Street Corp boosted its position in shares of Cipher Mining by 159.4% during the second quarter. State Street Corp now owns 602,653 shares of the company’s stock worth $826,000 after acquiring an additional 370,315 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Cipher Mining during the fourth quarter worth $182,000. Institutional investors own 10.80% of the company’s stock.

Cipher Mining Company Profile

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Cipher Mining Inc, a technology company, operates in the bitcoin mining ecosystem in the United States. It engages in developing and growing a cryptocurrency mining business that specializes in bitcoin. The company was incorporated in 2021 and is based in New York, New York.