Parametrica Management Ltd Invests $97,000 in Cipher Mining Inc. (NASDAQ:CIFR)

Parametrica Management Ltd purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,828 shares of the company’s stock, valued at approximately $97,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Cipher Mining by 8.8% in the third 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 during the last quarter. Intech Investment Management LLC acquired a new position in shares of Cipher Mining in the third quarter valued at about $133,000. Charles Schwab Investment Management Inc. raised its stake in shares of Cipher Mining by 71.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock worth $9,118,000 after purchasing an additional 977,963 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Cipher Mining during the third quarter worth about $583,000. Finally, The Manufacturers Life Insurance Company boosted its position in Cipher Mining by 47.4% in the third quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company’s stock valued at $383,000 after buying an additional 31,815 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Down 5.0 %

Shares of Cipher Mining stock opened at $3.04 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. Cipher Mining Inc. has a 1-year low of $2.66 and a 1-year high of $7.99. The business has a 50-day moving average of $4.67 and a 200-day moving average of $5.01. The company has a market capitalization of $1.12 billion, a PE ratio of -23.38 and a beta of 2.47.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CIFR. Cantor Fitzgerald decreased their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Rosenblatt Securities started coverage on shares of Cipher Mining in a research report on Friday, March 7th. They set a “buy” rating and a $6.50 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a report on Wednesday, February 26th. Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus 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.