Exchange Traded Concepts LLC Acquires 147,915 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Exchange Traded Concepts LLC raised its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,471,822 shares of the company's stock after acquiring an additional 147,915 shares during the period. Exchange Traded Concepts LLC owned approximately 0.42% of Cipher Mining worth $6,829,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Cipher Mining by 129.4% in the 2nd quarter. American Century Companies Inc. now owns 176,783 shares of the company's stock valued at $734,000 after acquiring an additional 99,736 shares during the period. Dimensional Fund Advisors LP bought a new stake in Cipher Mining in the second quarter valued at approximately $2,142,000. Amalgamated Bank boosted its position 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 purchasing an additional 4,557 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Cipher Mining in the 2nd quarter valued at $235,000. Finally, Xponance Inc. bought a new stake in shares of Cipher Mining in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

CIFR has been the topic of several recent analyst reports. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Northland Securities lifted their price objective on Cipher Mining from $6.00 to $8.50 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods began coverage on Cipher Mining in a research note on Wednesday, January 8th. They set an "outperform" rating for the company. Macquarie lifted their price target on shares of Cipher Mining from $6.00 to $7.25 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised shares of Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price objective for the company in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $8.25.

Insider Activity at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of Cipher Mining stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 98,747,588 shares in the company, valued at approximately $651,734,080.80. The trade was a 0.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 53,161 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.16, for a total value of $380,632.76. Following the completion of the sale, the chief operating officer now owns 664,270 shares in the company, valued at approximately $4,756,173.20. This trade represents a 7.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,356,881 shares of company stock valued at $8,608,389. 2.25% of the stock is owned by corporate insiders.

Cipher Mining Stock Up 6.7 %

Shares of Cipher Mining stock traded up $0.37 during trading hours on Friday, reaching $5.90. 17,445,960 shares of the company's stock were exchanged, compared to its average volume of 6,970,667. The stock has a market cap of $2.05 billion, a P/E ratio of -45.38 and a beta of 2.38. The company has a 50 day moving average of $5.84 and a two-hundred day moving average of $5.00. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week 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 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 the consensus estimate 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 quarter in the prior year, the business earned ($0.07) earnings per share. On average, sell-side analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

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.