Rhumbline Advisers Has $942,000 Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Rhumbline Advisers lifted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 253.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,905 shares of the company’s stock after purchasing an additional 162,749 shares during the quarter. Rhumbline Advisers owned 0.07% of Cipher Mining worth $942,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CIFR. First Financial Bankshares Inc acquired a new position in shares of Cipher Mining during the fourth quarter worth approximately $9,901,000. Vanguard Group Inc. raised its position in shares of Cipher Mining by 62.0% during the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after purchasing an additional 2,164,383 shares during the period. Vident Advisory LLC raised its position in shares of Cipher Mining by 94.9% during the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after purchasing an additional 1,090,811 shares during the period. Van ECK Associates Corp raised its position in shares of Cipher Mining by 38.9% during the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after purchasing an additional 765,238 shares during the period. Finally, Shariaportfolio Inc. acquired a new position in shares of Cipher Mining during the fourth quarter worth approximately $2,460,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Stock Up 3.1 %

Shares of NASDAQ:CIFR opened at $2.99 on Tuesday. The company has a market capitalization of $926.99 million, a PE ratio of 49.83 and a beta of 2.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.49 and a quick ratio of 8.49. The business has a fifty day moving average price of $4.13 and a two-hundred day moving average price of $4.20. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same quarter in the prior year, the company earned ($0.05) EPS. Analysts forecast that Cipher Mining Inc. will post -0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC upped their target price on Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price target on shares of Cipher Mining in a research report on Tuesday, September 3rd. Stifel Canada raised Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research report on Thursday, August 29th. Finally, HC Wainwright increased their price target on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cipher Mining presently has an average rating of “Buy” and an average price target of $7.70.

Insider Transactions at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $2.87, for a total transaction of $5,456,191.44. Following the completion of the transaction, the insider now owns 102,044,892 shares in the company, valued at approximately $292,868,840.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 7,270,170 shares of company stock worth $24,232,346. 2.25% of the stock is owned by company 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.