Wolverine Asset Management LLC Takes $49,000 Position in Cipher Mining Inc. (NASDAQ:CIFR)

Wolverine Asset Management LLC acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, Holdings Channel reports. The fund acquired 11,931 shares of the company’s stock, valued at approximately $49,000.

Several other large investors also recently added to or reduced their stakes in CIFR. Exchange Traded Concepts LLC lifted its holdings in shares of Cipher Mining by 107.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock worth $2,862,000 after acquiring an additional 358,897 shares during the last quarter. Swiss National Bank purchased a new stake in Cipher Mining in the 3rd quarter worth about $255,000. Van ECK Associates Corp lifted its stake in Cipher Mining by 22.3% in the third quarter. Van ECK Associates Corp now owns 1,403,549 shares of the company’s stock worth $3,270,000 after purchasing an additional 256,097 shares during the last quarter. Barclays PLC boosted its position in shares of Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after buying an additional 7,720 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in shares of Cipher Mining by 117.4% during the fourth quarter. Vontobel Holding Ltd. now owns 126,656 shares of the company’s stock valued at $523,000 after buying an additional 68,400 shares during the period. 12.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CIFR. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of Cipher Mining in a report on Thursday, March 28th. HC Wainwright reiterated a “buy” rating and issued a $4.50 target price on shares of Cipher Mining in a research note on Tuesday, March 5th. Canaccord Genuity Group reissued a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a research note on Thursday, March 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a research note on Monday, April 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.25.

Cipher Mining Trading Up 1.6 %

Shares of NASDAQ CIFR opened at $4.50 on Monday. Cipher Mining Inc. has a twelve month low of $1.76 and a twelve month high of $5.75. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $3.94 and a two-hundred day simple moving average of $3.45. The firm has a market cap of $1.33 billion, a PE ratio of -45.00 and a beta of 2.22.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. The firm had revenue of $43.42 million during the quarter, compared to the consensus estimate of $35.73 million. Analysts expect that Cipher Mining Inc. will post -0.15 earnings per share 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.