Cipher Mining Inc. (NASDAQ:CIFR) Shares Purchased by State Street Corp

State Street Corp boosted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,919,189 shares of the company’s stock after purchasing an additional 1,019,949 shares during the period. State Street Corp owned approximately 1.99% of Cipher Mining worth $26,777,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Amalgamated Bank boosted its stake in shares of Cipher Mining by 321.8% during 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 period. Farther Finance Advisors LLC purchased a new stake in Cipher Mining during the 3rd quarter valued at approximately $33,000. Xponance Inc. acquired a new stake in Cipher Mining during the 2nd quarter worth approximately $45,000. W Advisors LLC purchased a new position in shares of Cipher Mining in the 3rd quarter valued at approximately $45,000. Finally, Prospect Financial Services LLC acquired a new position in shares of Cipher Mining in the third quarter valued at approximately $47,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider William Iwaschuk sold 150,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total value of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. This represents a 19.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the firm’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 transaction, the insider now owns 99,047,588 shares of the company’s stock, valued at $616,075,997.36. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,596,623 shares of company stock worth $9,591,561 over the last 90 days. 2.25% of the stock is currently owned by corporate insiders.

Cipher Mining Trading Down 0.2 %

Shares of Cipher Mining stock opened at $5.73 on Monday. The company has a 50-day moving average of $6.09 and a two-hundred day moving average of $4.89. Cipher Mining Inc. has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.99 billion, a PE ratio of -44.07 and a beta of 2.29.

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

Wall Street Analyst Weigh In

CIFR has been the subject of several recent research reports. BTIG Research increased their price target on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a research note on Friday, November 1st. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. Northland Securities raised their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $8.03.

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.