Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 76.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,872 shares of the company's stock after purchasing an additional 64,240 shares during the period. Vontobel Holding Ltd.'s holdings in Cipher Mining were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CIFR. Voya Investment Management LLC lifted its position in shares of Cipher Mining by 3.6% during the 4th quarter. Voya Investment Management LLC now owns 59,135 shares of the company's stock valued at $274,000 after acquiring an additional 2,036 shares during the last quarter. Xponance Inc. raised its stake in Cipher Mining by 17.8% during the 4th quarter. Xponance Inc. now owns 14,151 shares of the company's stock valued at $66,000 after purchasing an additional 2,140 shares during the period. Russell Investments Group Ltd. raised its stake in Cipher Mining by 17.4% during the 4th quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock valued at $67,000 after purchasing an additional 2,149 shares during the period. Mackenzie Financial Corp raised its stake in Cipher Mining by 26.6% during the 4th quarter. Mackenzie Financial Corp now owns 13,095 shares of the company's stock valued at $61,000 after purchasing an additional 2,754 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Cipher Mining by 14.4% during the 4th quarter. Victory Capital Management Inc. now owns 29,747 shares of the company's stock valued at $138,000 after purchasing an additional 3,751 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Trading Down 4.3%

NASDAQ CIFR opened at $5.79 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.99. The company has a market cap of $1.94 billion, a PE ratio of -16.08 and a beta of 2.72. The stock has a 50 day moving average of $3.78 and a 200-day moving average of $4.01.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. The firm had revenue of $48.96 million for the quarter, compared to analysts' expectations of $53.57 million. On average, equities research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CIFR shares. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Cantor Fitzgerald increased their target price 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. Canaccord Genuity Group reissued a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a research report on Thursday, May 8th. JPMorgan Chase & Co. downgraded shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. Finally, Rosenblatt Securities restated a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $7.63.

Insider Activity at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 500,000 shares of Cipher Mining stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.86, for a total value of $2,430,000.00. Following the transaction, the insider directly owned 97,067,437 shares of the company's stock, valued at $471,747,743.82. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.89% of the company's stock.

Cipher Mining Company 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.

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