UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stake in Cipher Mining Inc. (NASDAQ:CIFR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,673 shares of the company’s stock after selling 25,227 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.06% of Cipher Mining worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Dark Forest Capital Management LP bought a new position in shares of Cipher Mining during the 2nd quarter valued at approximately $1,332,000. Bank of New York Mellon Corp increased its position in 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 valued at $2,279,000 after acquiring an additional 389,079 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Cipher Mining by 47.4% in the third quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company’s stock valued at $383,000 after acquiring an additional 31,815 shares during the period. Duncan Williams Asset Management LLC purchased a new stake in shares of Cipher Mining in the third quarter valued at $553,000. Finally, Millennium Management LLC lifted its holdings in shares of 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 acquiring an additional 2,938,184 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on CIFR. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a report on Friday, November 1st. Northland Securities upped their target price on Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of Cipher Mining in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Cipher Mining in a research report on Friday, November 1st. Finally, Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Buy” and a consensus price target of $8.03.

Insider Buying and Selling

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the completion of the sale, the insider now directly owns 98,747,588 shares of the company’s stock, valued at approximately $651,734,080.80. This represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54. Following the completion of the transaction, the chief operating officer now directly owns 717,431 shares in the company, valued at approximately $3,135,173.47. The trade was a 11.12 % 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 90 days. Corporate insiders own 2.25% of the company’s stock.

Cipher Mining Stock Performance

CIFR stock opened at $5.74 on Friday. Cipher Mining Inc. has a 1-year low of $2.15 and a 1-year high of $7.99. The business has a 50-day moving average price of $6.06 and a 200 day moving average price of $4.86. The company has a market capitalization of $2.00 billion, a P/E ratio of -44.15 and a beta of 2.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 business had revenue of $24.10 million during the quarter, compared to the consensus estimate of $25.84 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. As a group, equities research analysts forecast that Cipher Mining Inc. will post -0.18 EPS for the current fiscal year.

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.