EntryPoint Capital LLC Takes Position in Cipher Mining Inc. (NASDAQ:CIFR)

EntryPoint Capital LLC bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,355 shares of the company’s stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corebridge Financial Inc. raised its stake in shares of Cipher Mining by 4.3% in the 4th quarter. Corebridge Financial Inc. now owns 100,691 shares of the company’s stock valued at $467,000 after buying an additional 4,162 shares in the last quarter. Vanguard Group Inc. raised its position in Cipher Mining by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock worth $84,318,000 after purchasing an additional 1,189,756 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Cipher Mining during the fourth quarter worth about $221,000. American Century Companies Inc. boosted its holdings in Cipher Mining by 61.9% during the fourth quarter. American Century Companies Inc. now owns 455,041 shares of the company’s stock valued at $2,111,000 after purchasing an additional 173,906 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Cipher Mining by 47.6% in the 4th quarter. Virtu Financial LLC now owns 182,245 shares of the company’s stock valued at $846,000 after purchasing an additional 58,808 shares during the period. 12.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CIFR has been the subject of several analyst reports. Cantor Fitzgerald cut their target price on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reduced 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 note on Wednesday, February 26th. Northland Securities upped their target price on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Canaccord Genuity Group reissued a “buy” rating and set a $8.00 price target on shares of Cipher Mining in a report on Wednesday, February 26th. Finally, Rosenblatt Securities initiated coverage on shares of Cipher Mining in a research note on Friday, March 7th. They set a “buy” rating and a $6.50 price objective on the stock. One investment 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 stock. Based on data from MarketBeat, Cipher Mining presently has an average rating of “Buy” and an average price target of $8.13.

Cipher Mining Stock Down 11.8 %

NASDAQ:CIFR opened at $2.68 on Thursday. The company has a market cap of $985.25 million, a price-to-earnings ratio of -20.61 and a beta of 2.47. 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 stock’s fifty day moving average price is $4.61 and its two-hundred day moving average price is $5.00. Cipher Mining Inc. has a 52-week low of $2.58 and a 52-week high of $7.99.

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.