Vontobel Holding Ltd. Reduces Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Vontobel Holding Ltd. decreased its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 26.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,132 shares of the company’s stock after selling 41,777 shares during the period. Vontobel Holding Ltd.’s holdings in Cipher Mining were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its stake in Cipher Mining by 122.8% in the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after buying an additional 2,938,184 shares during the period. Vanguard Group Inc. increased 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 acquiring an additional 2,164,383 shares during the period. Vident Advisory LLC raised its stake 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 valued at $11,537,000 after acquiring an additional 1,090,811 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Cipher Mining by 38.9% in the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock valued at $14,079,000 after purchasing an additional 765,238 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in Cipher Mining in the second quarter worth approximately $2,142,000. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Up 8.2 %

NASDAQ:CIFR opened at $5.38 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.49 and a current ratio of 8.49. The stock has a market capitalization of $1.67 billion, a P/E ratio of 89.67 and a beta of 2.25. The company’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $4.18. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $36.81 million for 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 period in the prior year, the firm posted ($0.05) earnings per share. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Patrick Arthur Kelly sold 89,742 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the transaction, the chief operating officer now owns 717,431 shares in the company, valued at $3,135,173.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider William Iwaschuk sold 150,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total value of $591,000.00. Following the transaction, the insider now directly owns 619,148 shares of the company’s stock, valued at $2,439,443.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total value of $392,172.54. Following the sale, the chief operating officer now directly owns 717,431 shares of the company’s stock, valued at approximately $3,135,173.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,943,078 shares of company stock valued at $17,389,769. 2.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Northland Securities assumed coverage on Cipher Mining in a report on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a research note on Thursday, October 3rd. Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Compass Point boosted their price target on shares of Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research note on Thursday, August 29th. Seven investment 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 currently has a consensus rating of “Buy” and a consensus target price of $7.21.

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.