Barclays PLC boosted its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 377.2% in the third quarter, according to the company in its most recent Form 13F filing 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 period. Barclays PLC owned about 0.09% of Cipher Mining worth $1,147,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Amalgamated Bank boosted its stake in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company's stock valued at $25,000 after buying an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in Cipher Mining in the third quarter valued at $33,000. Xponance Inc. purchased a new stake in shares of Cipher Mining during the 2nd quarter worth $45,000. W Advisors LLC acquired a new position in shares of Cipher Mining during the 3rd quarter worth $45,000. Finally, Prospect Financial Services LLC purchased a new position in shares of Cipher Mining in the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 12.26% of the company's stock.
Cipher Mining Price Performance
CIFR stock traded down $0.20 during trading on Monday, hitting $4.66. The stock had a trading volume of 10,003,646 shares, compared to its average volume of 9,442,929. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -35.84 and a beta of 2.29. 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's 50 day moving average price is $6.14 and its two-hundred day moving average price is $4.92. 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 posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.18). The firm had revenue of $24.10 million during the quarter, compared to analyst estimates 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 prior year, the firm earned ($0.07) EPS. On average, sell-side analysts forecast that Cipher Mining Inc. will post -0.18 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the stock. Northland Capmk raised shares of Cipher Mining to a "strong-buy" rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price target on the stock in a research note on Tuesday, December 10th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Cipher Mining in a research note on Friday, November 1st. Macquarie lifted their price objective on Cipher Mining from $6.00 to $7.25 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Northland Securities upped their target price on Cipher Mining from $6.00 to $8.50 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of "Buy" and an average target price of $8.03.
Get Our Latest Stock Report on Cipher Mining
Insider Transactions at Cipher Mining
In other news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the 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 directly owns 99,047,588 shares in the company, valued at $616,075,997.36. This represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $380,632.76. Following the completion of the sale, the chief operating officer now directly owns 664,270 shares in the company, valued at $4,756,173.20. This represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,446,623 shares of company stock worth $9,000,561 over the last quarter. 2.25% of the stock is currently owned by insiders.
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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