B. Riley Wealth Advisors Inc. Purchases 5,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

B. Riley Wealth Advisors Inc. raised its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,000 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Cipher Mining were worth $62,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after acquiring an additional 7,720 shares during the period. Sloy Dahl & Holst LLC bought a new position in shares of Cipher Mining during the fourth quarter valued at $44,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Cipher Mining by 30.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock valued at $185,000 after acquiring an additional 10,998 shares during the period. Wolverine Asset Management LLC bought a new position in shares of Cipher Mining during the fourth quarter valued at $49,000. Finally, Bellecapital International Ltd. bought a new position in shares of Cipher Mining during the fourth quarter valued at $51,000. 12.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 394,357 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $5.54, for a total transaction of $2,184,737.78. Following the completion of the transaction, the insider now directly owns 113,271,323 shares in the company, valued at approximately $627,523,129.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 4,202,460 shares of company stock worth $18,467,001. 2.25% of the stock is currently owned by company insiders.

Cipher Mining Price Performance

Shares of CIFR stock opened at $4.15 on Friday. The stock has a 50-day moving average price of $4.19 and a 200 day moving average price of $3.81. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 69.17 and a beta of 2.28. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $5.89.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. The firm had revenue of $48.14 million during the quarter, compared to analyst estimates of $50.05 million. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%.

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.