Vontobel Holding Ltd. Sells 53,051 Shares of Cipher Mining Inc. $CIFR

Key Points

• Vontobel Holding Ltd. reduced its stake in Cipher Mining Inc. by 35.9% in the second quarter, currently holding 94,821 shares worth approximately $453,000.
• Cipher Mining shares recently opened at $20.89, with a market capitalization of $8.22 billion and a 1-year trading range between $1.86 and $21.48.
• Analysts have positive forecasts for Cipher Mining, with multiple price target upgrades leading to a consensus rating of "Moderate Buy" and an average target price of $16.68.

Vontobel Holding Ltd. lowered its stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 35.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,821 shares of the company's stock after selling 53,051 shares during the quarter. Vontobel Holding Ltd.'s holdings in Cipher Mining were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CIFR. Rhumbline Advisers boosted its stake in Cipher Mining by 2.3% in the 1st quarter. Rhumbline Advisers now owns 276,376 shares of the company's stock worth $636,000 after purchasing an additional 6,270 shares during the period. Farther Finance Advisors LLC boosted its stake in Cipher Mining by 72.3% in the 1st quarter. Farther Finance Advisors LLC now owns 41,920 shares of the company's stock worth $103,000 after purchasing an additional 17,586 shares during the period. Exchange Traded Concepts LLC boosted its stake in Cipher Mining by 0.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,476,421 shares of the company's stock worth $3,396,000 after purchasing an additional 4,599 shares during the period. FNY Investment Advisers LLC boosted its stake in Cipher Mining by 42.9% in the 1st quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock worth $36,000 after purchasing an additional 4,800 shares during the period. Finally, Duncan Williams Asset Management LLC boosted its stake in Cipher Mining by 3.2% in the 1st quarter. Duncan Williams Asset Management LLC now owns 141,434 shares of the company's stock worth $325,000 after purchasing an additional 4,434 shares during the period. Institutional investors own 12.26% of the company's stock.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $20.89 on Wednesday. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of -48.58 and a beta of 2.87. 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 Inc. has a 1-year low of $1.86 and a 1-year high of $21.48. The stock's 50-day moving average is $10.15 and its 200 day moving average is $6.11.

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

Wall Street Analysts Forecast Growth

CIFR has been the subject of a number of research analyst reports. Macquarie lifted their price target on Cipher Mining from $8.00 to $16.00 and gave the company an "outperform" rating in a research report on Monday, September 29th. Arete initiated coverage on Cipher Mining in a research report on Wednesday, September 24th. They set a "buy" rating and a $24.00 price target for the company. BTIG Research lifted their price target on Cipher Mining from $9.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday. HC Wainwright lifted their price target on Cipher Mining from $7.50 to $17.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Finally, Needham & Company LLC lifted their price target on Cipher Mining from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cipher Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.68.

Insider Buying and Selling

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of Cipher Mining stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.36, for a total value of $43,316,114.40. Following the transaction, the insider directly owned 71,437,719 shares of the company's stock, valued at $882,970,206.84. The trade was a 4.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 18,022,964 shares of company stock valued at $192,926,623. 2.63% of the stock is owned by 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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