Impact Partnership Wealth LLC acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 47,555 shares of the company's stock, valued at approximately $109,000.
A number of other hedge funds also recently made changes to their positions in CIFR. NewEdge Advisors LLC acquired a new stake in Cipher Mining during the 4th quarter valued at $29,000. Rafferty Asset Management LLC acquired a new stake in shares of Cipher Mining during the fourth quarter valued at about $49,000. Captrust Financial Advisors purchased a new stake in shares of Cipher Mining during the fourth quarter worth about $54,000. GTS Securities LLC acquired a new position in shares of Cipher Mining in the fourth quarter worth about $60,000. Finally, Mackenzie Financial Corp boosted its holdings in Cipher Mining by 26.6% in the fourth 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 last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on CIFR shares. Cantor Fitzgerald lifted their price objective on Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, May 7th. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $7.63.
Check Out Our Latest Research Report on Cipher Mining
Cipher Mining Stock Performance
Shares of CIFR stock opened at $6.36 on Monday. The company has a market cap of $2.13 billion, a P/E ratio of -17.67 and a beta of 2.72. The business has a 50 day moving average of $4.34 and a two-hundred day moving average of $4.08. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.77. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.01.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). The firm had revenue of $48.96 million during the quarter, compared to the consensus estimate of $53.57 million. Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. As a group, analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current year.
Insider Activity at Cipher Mining
In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 667,010 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $6.11, for a total transaction of $4,075,431.10. Following the completion of the transaction, the insider directly owned 93,667,437 shares of the company's stock, valued at $572,308,040.07. The trade was a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 3,378,290 shares of company stock worth $20,074,097 in the last three months. 2.89% of the stock is currently owned by corporate insiders.
Cipher Mining Company Profile
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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.
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