Private Advisor Group LLC Has $408,000 Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Private Advisor Group LLC increased its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 43.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 105,540 shares of the company’s stock after purchasing an additional 32,000 shares during the quarter. Private Advisor Group LLC’s holdings in Cipher Mining were worth $408,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its stake in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after buying an additional 4,557 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Cipher Mining during the 1st quarter worth $52,000. Xponance Inc. acquired a new stake in shares of Cipher Mining in the second quarter valued at about $45,000. Price T Rowe Associates Inc. MD bought a new position in shares of Cipher Mining in the first quarter worth about $59,000. Finally, Prospect Financial Services LLC acquired a new position in shares of Cipher Mining during the 3rd quarter worth about $47,000. Institutional investors own 12.26% of the company’s stock.

Insider Activity at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 89,742 shares of the company’s stock in a transaction on 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 in the company, valued at $3,135,173.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $2.74, for a total transaction of $5,209,046.88. Following the completion of the transaction, the insider now directly owns 103,946,004 shares of the company’s stock, valued at $284,812,050.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Arthur Kelly sold 89,742 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54. Following the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 6,943,078 shares of company stock valued at $23,609,769 in the last 90 days. 2.25% of the stock is owned by corporate insiders.

Cipher Mining Trading Up 5.6 %

Shares of CIFR stock opened at $5.32 on Wednesday. The firm has a fifty day moving average of $4.02 and a 200-day moving average of $4.29. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -40.92 and a beta of 2.18. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $7.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The business had revenue of $24.10 million for the quarter, compared to the consensus estimate of $25.84 million. During the same quarter in the prior year, the business earned ($0.07) EPS. On average, equities research analysts forecast that Cipher Mining Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.50 target price on shares of Cipher Mining in a report on Friday, November 1st. Northland Securities assumed coverage on shares of Cipher Mining in a research report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 target price on the stock. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, 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. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $7.36.

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.