KLP Kapitalforvaltning AS Acquires Shares of 47,700 Cipher Mining Inc. (NASDAQ:CIFR)

KLP Kapitalforvaltning AS acquired a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 47,700 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in Cipher Mining by 912.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after acquiring an additional 5,432 shares in the last quarter. KBC Group NV bought a new position in shares of Cipher Mining in the fourth quarter valued at approximately $46,000. Apollon Wealth Management LLC bought a new position in shares of Cipher Mining in the fourth quarter valued at approximately $49,000. FNY Investment Advisers LLC purchased a new position in shares of Cipher Mining during the fourth quarter valued at approximately $51,000. Finally, Verition Fund Management LLC grew its holdings in Cipher Mining by 30.7% during the third quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock worth $51,000 after buying an additional 3,086 shares in the last quarter. 12.26% of the stock is owned by institutional investors.

Cipher Mining Trading Up 6.2 %

Shares of CIFR stock opened at $2.23 on Tuesday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The firm has a market cap of $819.81 million, a P/E ratio of -17.15 and a beta of 2.65. The company has a 50 day moving average of $4.13 and a 200-day moving average of $4.98. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.99.

Analyst Ratings Changes

Several equities analysts have weighed in on CIFR shares. Cantor Fitzgerald dropped their price objective on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods assumed coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. Needham & Company LLC dropped their target price on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Cipher Mining in a research note on Wednesday, February 26th. One equities 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 data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.