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

Mint Tower Capital Management B.V. lessened its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 41.2% during the 4th quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

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

Analysts Set New Price Targets

CIFR has been the topic of several recent research reports. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Needham & Company LLC dropped their target price on Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Cantor Fitzgerald reduced their price target 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. Northland Securities lifted their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lowered shares of Cipher Mining from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 13th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $8.13.

Cipher Mining Price Performance

Shares of CIFR opened at $2.68 on Thursday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $4.61 and its 200 day simple moving average is $5.00. Cipher Mining Inc. has a 1-year low of $2.58 and a 1-year high of $7.99. The company has a market cap of $985.25 million, a price-to-earnings ratio of -20.61 and a beta of 2.47.

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.