Squarepoint Ops LLC Reduces Position in Cipher Mining Inc. (NASDAQ:CIFR)

Squarepoint Ops LLC trimmed its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 82.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 59,011 shares of the company’s stock after selling 276,007 shares during the quarter. Squarepoint Ops LLC’s holdings in Cipher Mining were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Xponance Inc. purchased a new position in shares of Cipher Mining during the second quarter valued at approximately $45,000. XTX Topco Ltd purchased a new stake in Cipher Mining during the 2nd quarter valued at $235,000. Amalgamated Bank lifted its holdings in shares of Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after buying an additional 4,557 shares during the period. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of Cipher Mining in the 2nd quarter worth $225,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Cipher Mining in the second quarter worth $2,142,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CIFR shares. Northland Capmk raised Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Compass Point upped their price target on Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price objective on shares of Cipher Mining in a research report on Thursday, October 3rd. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Northland Securities assumed coverage on shares of Cipher Mining in a report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $7.21.

Insider Activity at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $6.23, for a total transaction of $3,798,082.12. Following the sale, the insider now owns 109,911,187 shares of the company’s stock, valued at $684,746,695.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider William Iwaschuk sold 150,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total value of $591,000.00. Following the completion of the transaction, the insider now owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $6.23, for a total value of $3,798,082.12. Following the completion of the sale, the insider now directly owns 109,911,187 shares of the company’s stock, valued at $684,746,695.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,462,980 shares of company stock valued at $20,795,679. 2.25% of the stock is owned by corporate insiders.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $4.19 on Friday. The firm’s fifty day moving average is $3.61 and its two-hundred day moving average is $4.19. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $7.99. The company has a market cap of $1.30 billion, a P/E ratio of 69.83 and a beta of 2.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.49 and a current ratio of 8.49.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. The company had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, analysts anticipate that Cipher Mining Inc. will post -0.04 EPS for the current fiscal year.

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.