Greenleaf Trust Makes New $108,000 Investment in Cipher Mining Inc. $CIFR

Key Points

• Greenleaf Trust made a new investment in Cipher Mining Inc., purchasing 22,512 shares valued at approximately $108,000.
• Analysts have upgraded Cipher Mining's stock, with price targets ranging from $14.00 to $24.00 and a consensus average rating of "Moderate Buy."
• Recent insider activity includes major shareholder Holding Ltd V3 selling 2,000,000 shares for over $24 million.

Greenleaf Trust bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,512 shares of the company's stock, valued at approximately $108,000.

A number of other institutional investors have also recently added to or reduced their stakes in CIFR. Stoneridge Investment Partners LLC bought a new stake in Cipher Mining during the 1st quarter worth approximately $29,000. FNY Investment Advisers LLC boosted its stake in shares of Cipher Mining by 42.9% in the 1st quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock valued at $36,000 after purchasing an additional 4,800 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Cipher Mining in the 1st quarter valued at $37,000. Signal Advisors Wealth LLC bought a new stake in shares of Cipher Mining in the 2nd quarter valued at $48,000. Finally, Wellington Management Group LLP boosted its stake in shares of Cipher Mining by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 27,990 shares of the company's stock valued at $64,000 after purchasing an additional 2,940 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CIFR. Rosenblatt Securities upped their price objective on shares of Cipher Mining from $9.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Compass Point began coverage on shares of Cipher Mining in a research note on Monday, September 15th. They issued a "buy" rating on the stock. Arete began coverage on shares of Cipher Mining in a research note on Wednesday, September 24th. They issued a "buy" rating and a $24.00 price objective on the stock. Arete Research started coverage on shares of Cipher Mining in a research note on Wednesday, September 24th. They issued a "buy" rating and a $24.00 price objective on the stock. Finally, Needham & Company LLC increased their target price on shares of Cipher Mining from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.23.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $14.70 on Monday. The firm has a 50-day moving average of $8.41 and a 200-day moving average of $5.39. The company has a market cap of $5.78 billion, a P/E ratio of -34.19 and a beta of 2.87. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $15.78.

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

Insider Activity

In other news, major shareholder Holding Ltd V3 sold 2,000,000 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $12.08, for a total value of $24,160,000.00. Following the completion of the sale, the insider owned 67,852,537 shares in the company, valued at $819,658,646.96. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Arthur Kelly sold 44,870 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $10.80, for a total transaction of $484,596.00. Following the transaction, the chief operating officer owned 1,044,390 shares of the company's stock, valued at approximately $11,279,412. The trade was a 4.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,901,254 shares of company stock valued at $210,570,720. 2.89% of the stock is currently owned by corporate insiders.

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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