Mariner Investment Group LLC Invests $232,000 in Cipher Mining Inc. (NASDAQ:CIFR)

Mariner Investment Group LLC bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company's stock, valued at approximately $232,000.

A number of other large investors have also modified their holdings of the business. Millennium Management LLC increased its stake in Cipher Mining by 122.8% in the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company's stock valued at $22,123,000 after purchasing an additional 2,938,184 shares in the last quarter. Tidal Investments LLC increased its stake in Cipher Mining by 73.4% in the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company's stock valued at $14,485,000 after purchasing an additional 1,584,874 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cipher Mining by 37.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company's stock valued at $21,327,000 after buying an additional 1,511,455 shares during the last quarter. Van ECK Associates Corp grew its holdings in Cipher Mining by 41.5% during the 3rd quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company's stock valued at $15,094,000 after buying an additional 1,144,390 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Cipher Mining during the 3rd quarter valued at $4,029,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Down 23.6 %

NASDAQ:CIFR traded down $1.39 during mid-day trading on Monday, hitting $4.51. The company had a trading volume of 30,445,976 shares, compared to its average volume of 10,106,127. The business has a fifty day simple moving average of $5.84 and a 200-day simple moving average of $5.01. 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 1 year low of $2.40 and a 1 year high of $7.99. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -34.69 and a beta of 2.38.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $25.84 million. During the same period last year, the business earned ($0.07) earnings per share. Equities analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 53,161 shares of Cipher Mining 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 completion of the transaction, the chief operating officer now directly owns 664,270 shares in the company, valued at $4,756,173.20. The trade was a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 shares were sold at an average price of $6.60, for a total value of $1,980,000.00. Following the completion of the transaction, the insider now owns 98,747,588 shares of the company's stock, valued at approximately $651,734,080.80. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,881 shares of company stock valued at $2,388,389. 2.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Canaccord Genuity Group reiterated a "buy" rating and set a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. Northland Securities raised their price objective on Cipher Mining from $6.00 to $8.50 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 target price on the stock in a report on Tuesday, December 10th. 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 MarketBeat, the company currently has an average rating of "Buy" and an average target price of $8.25.

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.