Hel Ved Capital Management Ltd Makes New $1.31 Million Investment in Cipher Mining Inc. (NASDAQ:CIFR)

Hel Ved Capital Management Ltd acquired a new position in Cipher Mining Inc. (NASDAQ:CIFRFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 317,101 shares of the company’s stock, valued at approximately $1,310,000. Hel Ved Capital Management Ltd owned 0.12% of Cipher Mining as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Chesapeake Capital Corp IL acquired a new position in shares of Cipher Mining in the fourth quarter worth about $167,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Cipher Mining by 30.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock worth $185,000 after acquiring an additional 10,998 shares during the period. Van ECK Associates Corp raised its position in shares of Cipher Mining by 40.3% in the fourth quarter. Van ECK Associates Corp now owns 1,968,505 shares of the company’s stock worth $8,130,000 after acquiring an additional 564,956 shares during the period. AM Investment Strategies LLC acquired a new position in shares of Cipher Mining in the fourth quarter worth about $676,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of Cipher Mining during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Price Performance

CIFR stock traded down $0.08 during mid-day trading on Friday, reaching $4.03. The company’s stock had a trading volume of 12,001,108 shares, compared to its average volume of 6,042,721. The stock has a market cap of $1.25 billion, a PE ratio of 67.18 and a beta of 2.28. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.02. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $5.75. The company’s 50 day moving average is $4.02 and its two-hundred day moving average is $3.62.

Cipher Mining (NASDAQ:CIFRGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. The company had revenue of $48.14 million during the quarter, compared to the consensus estimate of $50.05 million. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%.

Analyst Ratings Changes

Several research firms recently weighed in on CIFR. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price target (up previously from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Cantor Fitzgerald restated an “overweight” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Thursday, March 28th. HC Wainwright upped their price target on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus target price of $5.58.

Read Our Latest Stock Analysis on Cipher Mining

Insider Activity

In other news, major shareholder Top Holdco B.V. Bitfury sold 296,357 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $3.99, for a total value of $1,182,464.43. Following the completion of the sale, the insider now owns 118,223,411 shares of the company’s stock, valued at approximately $471,711,409.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 1,498,872 shares of company stock valued at $5,821,931 in the last 90 days. Company insiders own 2.25% of the company’s stock.

About Cipher Mining

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cipher Mining (NASDAQ:CIFR)

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