B. Riley Wealth Advisors Inc. Buys 5,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

B. Riley Wealth Advisors Inc. grew its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 50.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,000 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Cipher Mining were worth $62,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Cipher Mining during the 4th quarter valued at $202,000. Cantor Fitzgerald L. P. bought a new stake in shares of Cipher Mining during the 4th quarter worth $747,000. Shariaportfolio Inc. bought a new stake in shares of Cipher Mining during the 4th quarter worth $2,460,000. First Financial Bankshares Inc bought a new stake in shares of Cipher Mining during the 4th quarter worth $9,901,000. Finally, Hel Ved Capital Management Ltd bought a new stake in shares of Cipher Mining during the 4th quarter worth $1,310,000. 12.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CIFR has been the subject of several recent analyst reports. HC Wainwright upped their price objective on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price objective (up from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a research report on Friday, June 7th. Finally, Cantor Fitzgerald initiated coverage on Cipher Mining in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

Cipher Mining Price Performance

Cipher Mining stock opened at $4.15 on Friday. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.29 billion, a PE ratio of 69.17 and a beta of 2.28. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $5.89. The stock has a 50-day moving average price of $4.19 and a two-hundred day moving average price of $3.81.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. The firm had revenue of $48.14 million during the quarter, compared to the consensus estimate of $50.05 million. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%.

Insider Activity

In other news, major shareholder Top Holdco B.V. Bitfury sold 296,357 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $3.99, for a total value of $1,182,464.43. Following the completion of the sale, the insider now owns 118,223,411 shares of the company’s stock, valued at $471,711,409.89. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 4,202,460 shares of company stock valued at $18,467,001. Company insiders own 2.25% of the company’s stock.

Cipher Mining Company 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.