Creative Planning Raises Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Creative Planning boosted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 106.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,492 shares of the company’s stock after buying an additional 26,498 shares during the quarter. Creative Planning’s holdings in Cipher Mining were worth $188,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CIFR. Millennium Management LLC boosted its stake in Cipher Mining by 122.8% in the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after acquiring an additional 2,938,184 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 buying an additional 2,164,383 shares during the period. Vident Advisory LLC lifted 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 worth $11,537,000 after buying an additional 1,090,811 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Cipher Mining during the second quarter worth $2,142,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cipher Mining by 243.2% during the second quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after buying an additional 389,079 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Up 3.8 %

CIFR opened at $7.43 on Tuesday. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two 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. The company has a fifty day moving average of $4.22 and a two-hundred day moving average of $4.34. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -56.08 and a beta of 2.18.

Cipher Mining (NASDAQ:CIFR) last released its 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). The company had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same period in the prior year, the firm earned ($0.07) EPS. On average, research analysts expect that Cipher Mining Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CIFR. Macquarie lifted their price objective on shares of Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Northland Securities began 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 for the company. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Thursday, October 3rd. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research report on Friday, November 1st. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cipher Mining has an average rating of “Buy” and an average price target of $7.54.

Insider Transactions at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the completion of the sale, the insider now owns 99,047,588 shares of the company’s stock, valued at $616,075,997.36. The trade was 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 at this link. In related news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the completion of the sale, the insider now owns 99,047,588 shares of the company’s stock, valued at approximately $616,075,997.36. This 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 the SEC website. Also, 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 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. Insiders sold 6,943,678 shares of company stock valued at $23,613,969 over the last 90 days. Corporate insiders own 2.25% of the company’s stock.

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.