Impact Partnership Wealth LLC purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,555 shares of the company's stock, valued at approximately $109,000.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Private Advisor Group LLC boosted its position in shares of Cipher Mining by 249.3% in the 1st quarter. Private Advisor Group LLC now owns 701,804 shares of the company's stock valued at $1,614,000 after purchasing an additional 500,864 shares during the period. SBI Securities Co. Ltd. lifted its stake in Cipher Mining by 13.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 29,948 shares of the company's stock worth $69,000 after acquiring an additional 3,455 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Cipher Mining in the 1st quarter worth about $37,000. Bank of New York Mellon Corp lifted its stake in Cipher Mining by 6.9% in the 1st quarter. Bank of New York Mellon Corp now owns 637,760 shares of the company's stock worth $1,467,000 after acquiring an additional 41,253 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Cipher Mining during the 1st quarter worth about $82,000. Institutional investors own 12.26% of the company's stock.
Insider Buying and Selling
In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 667,010 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $6.11, for a total transaction of $4,075,431.10. Following the sale, the insider owned 93,667,437 shares in the company, valued at $572,308,040.07. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 3,378,290 shares of company stock valued at $20,074,097 in the last quarter. 2.89% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. Jones Trading raised Cipher Mining to a "hold" rating in a research note on Monday. Cantor Fitzgerald raised their price objective on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Thursday, May 8th. Finally, HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $7.63.
Get Our Latest Research Report on Cipher Mining
Cipher Mining Trading Down 0.7%
CIFR traded down $0.04 during midday trading on Thursday, hitting $6.64. 16,894,243 shares of the company were exchanged, compared to its average volume of 21,029,348. The firm has a market capitalization of $2.22 billion, a P/E ratio of -18.61 and a beta of 2.72. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.77. The firm's 50 day moving average price is $4.54 and its 200-day moving average price is $4.12. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $48.96 million during the quarter, compared to analyst estimates 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, equities analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.
Cipher Mining Profile
(
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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