Barclays PLC Boosts Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Barclays PLC grew its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 377.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,493 shares of the company’s stock after purchasing an additional 234,366 shares during the quarter. Barclays PLC owned approximately 0.09% of Cipher Mining worth $1,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Cipher Mining by 8.8% in the third quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock valued at $101,000 after buying an additional 2,101 shares during the last quarter. Vima LLC raised its holdings in Cipher Mining by 11.3% in the 3rd quarter. Vima LLC now owns 24,656 shares of the company’s stock valued at $95,000 after acquiring an additional 2,504 shares during the last quarter. Verition Fund Management LLC lifted its stake in Cipher Mining by 30.7% in the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock worth $51,000 after purchasing an additional 3,086 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares during the last quarter. Finally, Strategic Blueprint LLC grew its position in shares of Cipher Mining by 33.3% in the third quarter. Strategic Blueprint LLC now owns 20,000 shares of the company’s stock valued at $77,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Macquarie lifted their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price objective on shares of Cipher Mining in a report on Tuesday, January 7th. BTIG Research raised their target price on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Northland Securities raised their price objective on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $8.25.

Cipher Mining Trading Down 3.4 %

Shares of Cipher Mining stock opened at $4.81 on Tuesday. The company has a 50-day moving average of $6.09 and a two-hundred day moving average of $4.95. 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 $1.67 billion, a PE ratio of -37.00 and a beta of 2.38.

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 -0.31 EPS for the current fiscal year.

Insider Activity

In other news, COO Patrick Arthur Kelly sold 53,161 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $7.16, for a total value of $380,632.76. Following the completion of the transaction, the chief operating officer now directly owns 664,270 shares of the company’s stock, valued at $4,756,173.20. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 99,047,588 shares in the company, valued at $616,075,997.36. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,356,881 shares of company stock worth $8,608,389 over the last 90 days. 2.25% of the stock is currently owned by corporate insiders.

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.