Mint Tower Capital Management B.V. Sells 50,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Mint Tower Capital Management B.V. reduced its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 41.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,475 shares of the company’s stock after selling 50,000 shares during the period. Mint Tower Capital Management B.V.’s holdings in Cipher Mining were worth $332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CIFR. Victory Capital Management Inc. raised its holdings in shares of Cipher Mining by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock worth $101,000 after buying an additional 2,101 shares in the last quarter. Xponance Inc. grew its position in Cipher Mining by 17.8% in the fourth quarter. Xponance Inc. now owns 14,151 shares of the company’s stock valued at $66,000 after acquiring an additional 2,140 shares during the period. Verition Fund Management LLC raised its stake 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 acquiring an additional 3,086 shares in the last quarter. Tobam raised its stake in Cipher Mining by 22.7% during the fourth quarter. Tobam now owns 18,023 shares of the company’s stock worth $84,000 after acquiring an additional 3,336 shares in the last quarter. Finally, Navellier & Associates Inc. lifted its holdings in shares of Cipher Mining by 11.6% during the fourth quarter. Navellier & Associates Inc. now owns 36,274 shares of the company’s stock valued at $168,000 after acquiring an additional 3,756 shares during the period. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Price Performance

CIFR opened at $2.68 on Thursday. The company has a fifty day moving average price of $4.61 and a two-hundred day moving average price of $5.00. The firm has a market capitalization of $985.25 million, a PE ratio of -20.61 and a beta of 2.47. Cipher Mining Inc. has a 52 week low of $2.58 and a 52 week high of $7.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CIFR. 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. Needham & Company LLC dropped their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Cantor Fitzgerald cut their target price on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods started coverage on Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $8.13.

Cipher Mining 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.