Dimensional Fund Advisors LP Makes New Investment in Cipher Mining Inc. (NASDAQ:CIFR)

Dimensional Fund Advisors LP bought a new position in Cipher Mining Inc. (NASDAQ:CIFR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 516,125 shares of the company’s stock, valued at approximately $2,142,000. Dimensional Fund Advisors LP owned approximately 0.17% of Cipher Mining at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in Cipher Mining in the 1st quarter worth about $52,000. Price T Rowe Associates Inc. MD bought a new position in shares of Cipher Mining during the first quarter valued at approximately $59,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Cipher Mining by 50.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after purchasing an additional 5,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cipher Mining during the first quarter valued at approximately $74,000. Finally, Principal Financial Group Inc. bought a new position in shares of Cipher Mining during the second quarter valued at approximately $88,000. 12.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CIFR. Needham & Company LLC increased their price objective on shares of Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Macquarie began coverage on shares of Cipher Mining in a research note on Tuesday, September 24th. They set an “outperform” rating and a $6.00 price objective on the stock. Compass Point increased their price objective on shares of Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Buy” and a consensus price target of $7.21.

Cipher Mining Price Performance

NASDAQ CIFR opened at $4.19 on Friday. The firm’s fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $4.20. The company has a current ratio of 8.49, a quick ratio of 8.49 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. The firm has a market capitalization of $1.30 billion, a P/E ratio of 69.83 and a beta of 2.25.

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

Insider Activity

In other news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $5,741,358.24. Following the sale, the insider now directly owns 107,748,228 shares in the company, valued at $325,399,648.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,462,980 shares of company stock valued at $20,795,679 over the last ninety days. 2.25% of the stock is currently owned by insiders.

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.