111 Capital Takes $114,000 Position in Cipher Mining Inc. $CIFR

Key Points

• 111 Capital has taken a new position in Cipher Mining Inc. by acquiring 23,768 shares valued at approximately $114,000 in the second quarter, according to their 13F filing.
• Recent insider activity saw Holding Ltd V3 selling 3,504,540 shares at an average price of $12.36, decreasing their holdings by 4.68%.
• Analysts maintain a positive outlook for Cipher Mining, with 12 out of 15 analysts rating it as a buy and raising price targets, reflecting an average price target of $15.23.

111 Capital bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,768 shares of the company's stock, valued at approximately $114,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stoneridge Investment Partners LLC acquired a new stake in shares of Cipher Mining in the first quarter valued at $29,000. FNY Investment Advisers LLC increased its position in Cipher Mining by 42.9% in the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock worth $36,000 after purchasing an additional 4,800 shares during the period. Valeo Financial Advisors LLC acquired a new stake in Cipher Mining in the first quarter worth about $37,000. Signal Advisors Wealth LLC acquired a new stake in Cipher Mining in the second quarter worth about $48,000. Finally, Custos Family Office LLC acquired a new stake in Cipher Mining in the second quarter worth about $48,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.36, for a total value of $43,316,114.40. Following the completion of the transaction, the insider directly owned 71,437,719 shares in the company, valued at approximately $882,970,206.84. The trade was a 4.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 20,301,254 shares of company stock valued at $206,922,720. 2.89% of the stock is currently owned by insiders.

Cipher Mining Price Performance

Shares of CIFR opened at $15.75 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $16.12. The stock has a market cap of $6.19 billion, a P/E ratio of -36.63 and a beta of 2.87. The stock's 50-day moving average price is $8.80 and its two-hundred day moving average price is $5.55.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). Cipher Mining had a negative return on equity of 21.71% and a negative net margin of 96.95%.The firm had revenue of $43.57 million for the quarter, compared to analysts' expectations of $51.89 million. On average, equities analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Needham & Company LLC lifted their price objective on Cipher Mining from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. lifted their price objective on Cipher Mining from $6.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, September 26th. Canaccord Genuity Group lifted their price objective on Cipher Mining from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Jones Trading assumed coverage on Cipher Mining in a research report on Monday, July 21st. They issued a "hold" rating for the company. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Cipher Mining in a research report on Saturday, September 27th. Twelve equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.23.

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.

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