269,000 Shares in Cipher Mining Inc. $CIFR Acquired by RR Advisors LLC

Key Points

• RR Advisors LLC invested approximately $619,000 in Cipher Mining Inc. by acquiring 269,000 shares, marking the stock as its 27th largest holding.
• Several institutional investors have increased their stakes in Cipher Mining, with notably JPMorgan Chase & Co. boosting its holdings by 510.2% to own over 900,000 shares valued at approximately $4.4 million.
• Cipher Mining's stock has received a consensus rating of "Moderate Buy" from analysts, with a target price of $7.70 following recent ratings increases from various brokerages.

RR Advisors LLC purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 269,000 shares of the company's stock, valued at approximately $619,000. Cipher Mining makes up approximately 0.1% of RR Advisors LLC's portfolio, making the stock its 27th biggest holding. RR Advisors LLC owned 0.07% of Cipher Mining at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in shares of Cipher Mining during the fourth quarter worth about $29,000. FNY Investment Advisers LLC grew its holdings in shares of Cipher Mining by 42.9% during the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock worth $36,000 after buying an additional 4,800 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Cipher Mining during the first quarter worth about $37,000. Rafferty Asset Management LLC bought a new position in shares of Cipher Mining during the fourth quarter worth about $49,000. Finally, Captrust Financial Advisors bought a new position in shares of Cipher Mining during the fourth quarter worth about $54,000. 12.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CIFR shares. Canaccord Genuity Group increased their price objective on Cipher Mining from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Tuesday. Macquarie increased their price objective on Cipher Mining from $6.00 to $8.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Jones Trading began coverage on Cipher Mining in a report on Monday, July 21st. They set a "hold" rating for the company. Cantor Fitzgerald increased their price target on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Finally, HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cipher Mining has a consensus rating of "Moderate Buy" and a consensus target price of $7.67.

Cipher Mining Stock Performance

Shares of CIFR traded down $0.29 during mid-day trading on Tuesday, reaching $5.76. The company's stock had a trading volume of 25,898,512 shares, compared to its average volume of 21,168,637. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.77. The stock has a market cap of $2.27 billion, a P/E ratio of -13.40 and a beta of 2.73. The business has a 50-day simple moving average of $5.20 and a two-hundred day simple moving average of $4.13. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling

In other news, major shareholder Holding Ltd V3 sold 369,984 shares of the firm'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 value of $2,075,610.24. Following the completion of the sale, the insider directly owned 90,942,259 shares of the company's stock, valued at $510,186,072.99. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $6.06, for a total value of $1,752,218.70. Following the completion of the sale, the insider directly owned 93,378,292 shares of the company's stock, valued at approximately $565,872,449.52. The trade was 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 sold 5,314,323 shares of company stock valued at $32,144,964. Insiders own 2.89% of the company's stock.

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.