Barclays PLC raised its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 377.2% during the 3rd quarter, according to its most recent disclosure with the Securities and 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 about 0.09% of Cipher Mining worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank increased its stake in Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company's stock valued at $25,000 after buying an additional 4,557 shares during the period. Farther Finance Advisors LLC bought a new stake in Cipher Mining during the third quarter worth approximately $33,000. Xponance Inc. acquired a new stake in Cipher Mining in the second quarter worth approximately $45,000. W Advisors LLC bought a new position in Cipher Mining during the 3rd quarter valued at $45,000. Finally, Prospect Financial Services LLC acquired a new position in shares of Cipher Mining during the 3rd quarter valued at $47,000. Institutional investors own 12.26% of the company's stock.
Cipher Mining Stock Up 2.9 %
Shares of CIFR traded up $0.14 during trading hours on Tuesday, reaching $4.95. The company's stock had a trading volume of 6,838,862 shares, compared to its average volume of 7,904,950. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -38.07 and a beta of 2.38. 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 1-year low of $2.15 and a 1-year high of $7.99.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $24.10 million for the quarter, compared to analyst estimates of $25.84 million. During the same period last year, the business earned ($0.07) EPS. As a group, research analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.
Insider Buying and Selling at Cipher Mining
In related news, COO Patrick Arthur Kelly sold 53,161 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 664,270 shares of the company's stock, valued at approximately $4,756,173.20. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.22, for a total value 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 trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on CIFR shares. Macquarie upped their price objective on Cipher Mining from $6.00 to $7.25 and gave the company an "outperform" rating in a report on Thursday, November 7th. Canaccord Genuity Group restated a "buy" rating and set a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $11.00 target price on shares of Cipher Mining in a report on Tuesday, January 7th. HC Wainwright reissued a "buy" rating and set a $7.00 target price on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $7.50 price target on shares of Cipher Mining in a research report on Friday, November 1st. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.25.
Check Out Our Latest Analysis on CIFR
Cipher Mining Profile
(
Free Report)
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.
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