Banco Bilbao Vizcaya Argentaria S.A. Buys New Holdings in Cipher Mining Inc. $CIFR

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has invested $241,000 in Cipher Mining Inc. by purchasing 100,206 shares in the 1st quarter.
• Brokerages have issued positive ratings and increased price targets for Cipher Mining, including an upgrade from $4.00 to $6.00 by Cantor Fitzgerald and from $6.00 to $8.00 by Macquarie.
• Cipher Mining reported a negative EPS of $0.12 for the last quarter, meeting analysts' expectations, but also a revenue of $43.57 million, falling short of the $51.89 million forecast.

Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 100,206 shares of the company's stock, valued at approximately $241,000.

A number of other hedge funds also recently added to or reduced their stakes in CIFR. V3 Holding Ltd bought a new stake in shares of Cipher Mining during the fourth quarter valued at about $452,713,000. Lone Pine Capital LLC bought a new stake in shares of Cipher Mining during the fourth quarter valued at about $10,878,000. Driehaus Capital Management LLC bought a new stake in shares of Cipher Mining during the fourth quarter valued at about $9,439,000. Voloridge Investment Management LLC bought a new stake in shares of Cipher Mining during the fourth quarter valued at about $5,378,000. Finally, Vident Advisory LLC raised its stake in shares of Cipher Mining by 29.4% during the fourth quarter. Vident Advisory LLC now owns 4,250,078 shares of the company's stock valued at $19,720,000 after purchasing an additional 965,648 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Holding Ltd V3 sold 369,984 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $5.61, for a total transaction of $2,075,610.24. Following the completion of the transaction, the insider directly owned 90,942,259 shares in the company, valued at $510,186,072.99. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $6.06, for a total value of $1,752,218.70. Following the transaction, the insider owned 93,378,292 shares of the company's stock, valued at approximately $565,872,449.52. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,466,662 shares of company stock valued at $33,020,046. Insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Cantor Fitzgerald boosted their price target on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Jones Trading assumed coverage on shares of Cipher Mining in a research report on Monday, July 21st. They issued a "hold" rating on the stock. Canaccord Genuity Group boosted their price target on shares of Cipher Mining from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $7.67.

Cipher Mining Stock Up 0.4%

NASDAQ:CIFR traded up $0.03 on Thursday, hitting $7.02. 19,953,440 shares of the company's stock traded hands, compared to its average volume of 21,264,115. The firm has a 50-day moving average price of $5.55 and a 200-day moving average price of $4.18. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.76 billion, a PE ratio of -16.33 and a beta of 2.73. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $7.77.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $43.57 million during the quarter, compared to analysts' expectations of $51.89 million. Cipher Mining had a negative return on equity of 21.71% and a negative net margin of 96.95%. Equities analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

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.