Fmr LLC Has $129,000 Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Fmr LLC increased its position in Cipher Mining Inc. (NASDAQ:CIFR) by 598.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,233 shares of the company’s stock after buying an additional 28,476 shares during the period. Fmr LLC’s holdings in Cipher Mining were worth $129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Amalgamated Bank boosted its stake in shares of Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after acquiring an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Cipher Mining during the third quarter worth approximately $33,000. Xponance Inc. acquired a new position in Cipher Mining during the second quarter valued at approximately $45,000. W Advisors LLC acquired a new stake in shares of Cipher Mining in the third quarter worth $45,000. Finally, Prospect Financial Services LLC acquired a new stake in shares of Cipher Mining in the third quarter worth $47,000. Institutional investors own 12.26% of the company’s stock.

Insider Buying and Selling

In other news, insider William Iwaschuk sold 150,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the transaction, the insider now owns 619,148 shares in the company, valued at approximately $2,439,443.12. This represents a 19.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.22, for a total value of $6,220,000.00. Following the completion of the transaction, the insider now owns 99,047,588 shares in the company, valued at approximately $616,075,997.36. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,596,623 shares of company stock valued at $9,591,561 over the last quarter. Insiders own 2.25% of the company’s stock.

Cipher Mining Price Performance

CIFR stock opened at $5.73 on Monday. The company’s 50-day moving average price is $6.09 and its two-hundred day moving average price is $4.89. The firm has a market cap of $1.99 billion, a P/E ratio of -44.07 and a beta of 2.29. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $7.99.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The company had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, analysts anticipate that Cipher Mining Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CIFR. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research report on Friday, November 1st. Macquarie lifted their price target on Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research note on Tuesday, December 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price target on shares of Cipher Mining in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.03.

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.