Quadrature Capital Ltd Invests $513,000 in Cipher Mining Inc. (NASDAQ:CIFR)

Quadrature Capital Ltd bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 124,117 shares of the company’s stock, valued at approximately $513,000.

Several other institutional investors and hedge funds have also made changes to their positions in CIFR. First Financial Bankshares Inc purchased a new stake in Cipher Mining in the fourth quarter valued at approximately $9,901,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Cipher Mining by 30.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock valued at $185,000 after purchasing an additional 10,998 shares during the period. Exchange Traded Concepts LLC raised its position in Cipher Mining by 107.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock valued at $2,862,000 after purchasing an additional 358,897 shares during the period. Shariaportfolio Inc. purchased a new stake in Cipher Mining in the fourth quarter valued at approximately $2,460,000. Finally, Wolverine Asset Management LLC purchased a new stake in Cipher Mining in the fourth quarter valued at approximately $49,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Top Holdco B.V. Bitfury sold 308,973 shares of Cipher Mining stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $3.72, for a total transaction of $1,149,379.56. Following the sale, the insider now owns 117,012,102 shares of the company’s stock, valued at approximately $435,285,019.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 2,897,358 shares of company stock valued at $12,352,745. Company insiders own 2.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CIFR. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 price objective (up previously from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Cantor Fitzgerald initiated coverage on shares of Cipher Mining in a research note on Tuesday, June 11th. They set an “overweight” rating and a $9.00 target price for the company. HC Wainwright upped their price objective on shares of Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of Cipher Mining in a research note on Friday, June 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.25.

Cipher Mining Stock Down 13.0 %

CIFR stock opened at $4.56 on Monday. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $5.89. The company’s 50 day simple moving average is $4.13 and its 200-day simple moving average is $3.78. The firm has a market capitalization of $1.41 billion, a PE ratio of 76.01 and a beta of 2.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.08 and a quick ratio of 8.08.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%. The business had revenue of $48.14 million for the quarter, compared to the consensus estimate of $50.05 million.

Cipher Mining Company 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.