Cipher Mining Inc. (NASDAQ:CIFR) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 71.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,356,044 shares of the company's stock after acquiring an additional 977,963 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.68% of Cipher Mining worth $9,118,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CIFR. Amalgamated Bank raised its position 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 purchasing an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Cipher Mining in the third quarter valued at about $33,000. Xponance Inc. purchased a new stake in Cipher Mining in the second quarter worth about $45,000. W Advisors LLC bought a new position in Cipher Mining during the 3rd quarter worth about $45,000. Finally, Prospect Financial Services LLC purchased a new position in Cipher Mining during the 3rd quarter valued at about $47,000. Institutional investors own 12.26% of the company's stock.

Analyst Ratings Changes

CIFR has been the subject of several research reports. Northland Capmk raised shares of Cipher Mining to a "strong-buy" rating in a research report on Wednesday, September 25th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $7.00 target price on shares of Cipher Mining in a research report on Friday, November 1st. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Cipher Mining in a research note on Friday, November 1st. Needham & Company LLC reiterated a "buy" rating and issued a $7.50 target price on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Compass Point boosted their target price on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cipher Mining currently has a consensus rating of "Buy" and an average target price of $8.03.

Insiders Place Their Bets

In other news, COO Patrick Arthur Kelly sold 89,742 shares of the company's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total value of $392,172.54. Following the sale, the chief operating officer now directly owns 717,431 shares of the company's stock, valued at $3,135,173.47. This represents a 11.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the transaction, the insider now directly owns 98,747,588 shares of the company's stock, valued at approximately $651,734,080.80. This trade represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,593,503 shares of company stock valued at $9,568,005. 2.25% of the stock is owned by company insiders.

Cipher Mining Stock Up 5.4 %

Shares of CIFR traded up $0.33 during mid-day trading on Wednesday, hitting $6.46. 7,862,184 shares of the company traded hands, compared to its average volume of 9,349,897. The company has a market capitalization of $2.25 billion, a PE ratio of -47.15 and a beta of 2.29. 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 business has a 50 day moving average of $5.69 and a 200 day moving average of $4.74. 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 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). The company had revenue of $24.10 million during the quarter, compared to analysts' expectations of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same period in the prior year, the business posted ($0.07) EPS. Equities research analysts anticipate that Cipher Mining Inc. will post -0.18 EPS for the current 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.