Vontobel Holding Ltd. lifted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR – Free Report) by 126.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,309 shares of the company’s stock after purchasing an additional 13,000 shares during the period. Vontobel Holding Ltd.’s holdings in Cipher Mining were worth $67,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. American International Group Inc. bought a new position in Cipher Mining in the second quarter valued at about $25,000. JPMorgan Chase & Co. boosted its holdings in Cipher Mining by 72.5% in the second quarter. JPMorgan Chase & Co. now owns 21,173 shares of the company’s stock valued at $29,000 after acquiring an additional 8,896 shares during the last quarter. HBW Advisory Services LLC bought a new position in Cipher Mining in the second quarter valued at about $29,000. Squarepoint Ops LLC bought a new position in Cipher Mining in the first quarter valued at about $30,000. Finally, Jane Street Group LLC boosted its holdings in Cipher Mining by 373.5% in the fourth quarter. Jane Street Group LLC now owns 68,531 shares of the company’s stock valued at $38,000 after acquiring an additional 54,059 shares during the last quarter. Institutional investors own 6.70% of the company’s stock.
Analyst Upgrades and Downgrades
CIFR has been the topic of a number of recent analyst reports. BTIG Research initiated coverage on Cipher Mining in a report on Friday, September 15th. They set a “buy” rating and a $6.00 target price on the stock. Canaccord Genuity Group raised their target price on Cipher Mining from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Wednesday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Wednesday, August 9th. HC Wainwright raised their price target on Cipher Mining from $3.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.00 price target on shares of Cipher Mining in a research report on Monday, September 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.25.
Cipher Mining Trading Up 10.8 %
NASDAQ CIFR opened at $2.66 on Tuesday. The business’s 50-day moving average price is $2.87 and its two-hundred day moving average price is $2.88. Cipher Mining Inc. has a 12 month low of $0.38 and a 12 month high of $5.30. The firm has a market capitalization of $667.54 million, a PE ratio of -53.20 and a beta of 2.50. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03.
Cipher Mining (NASDAQ:CIFR – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The business had revenue of $31.22 million during the quarter, compared to analyst estimates of $32.20 million. On average, analysts expect that Cipher Mining Inc. will post -0.18 EPS for the current year.
Insiders Place Their Bets
In other news, Director Cary M. Grossman sold 85,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $3.63, for a total value of $308,550.00. Following the completion of the sale, the director now owns 226,659 shares of the company’s stock, valued at approximately $822,772.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider William Iwaschuk sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $3.58, for a total value of $358,000.00. Following the sale, the insider now owns 173,989 shares in the company, valued at approximately $622,880.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cary M. Grossman sold 85,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $3.63, for a total value of $308,550.00. Following the sale, the director now owns 226,659 shares in the company, valued at $822,772.17. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.
Cipher Mining Company Profile
Cipher Mining Inc, a technology company, develops and operates 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 is a subsidiary of Bitfury Holding B.V.
Further Reading
- Five stocks we like better than Cipher Mining
- The 3 Best Retail Stocks to Shop for in August
- Warren Buffett Stocks: What’s in Warren Buffett’s Portfolio?
- What Are MATANA Stocks?
- Snack Maker Mondelez Int’l Is Down but Not Out
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Costco, Dollar General, Target Up As Market Turns Defensive
Want to see what other hedge funds are holding CIFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cipher Mining Inc. (NASDAQ:CIFR – Free Report).
Receive News & Ratings for Cipher Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cipher Mining and related companies with MarketBeat.com's FREE daily email newsletter.
