American Century Companies Inc. Boosts Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

American Century Companies Inc. raised its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 129.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 176,783 shares of the company’s stock after purchasing an additional 99,736 shares during the period. American Century Companies Inc. owned about 0.06% of Cipher Mining worth $734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hel Ved Capital Management Ltd acquired a new stake in Cipher Mining in the fourth quarter valued at $1,310,000. First Financial Bankshares Inc acquired a new stake in shares of Cipher Mining in the 4th quarter valued at about $9,901,000. Shariaportfolio Inc. bought a new position in shares of Cipher Mining during the fourth quarter worth about $2,460,000. Cantor Fitzgerald L. P. acquired a new position in Cipher Mining in the fourth quarter worth about $747,000. Finally, Virtu Financial LLC bought a new stake in Cipher Mining in the fourth quarter valued at about $202,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $6.23, for a total value of $3,798,082.12. Following the completion of the transaction, the insider now owns 109,911,187 shares of the company’s stock, valued at $684,746,695.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $6.23, for a total transaction of $3,798,082.12. Following the sale, the insider now directly owns 109,911,187 shares in the company, valued at approximately $684,746,695.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Iwaschuk sold 150,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the completion of the transaction, the insider now owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The disclosure for this sale can be found here. Insiders have sold 6,462,980 shares of company stock valued at $20,795,679 in the last quarter. Corporate insiders own 2.25% of the company’s stock.

Cipher Mining Stock Down 7.5 %

Cipher Mining stock opened at $3.58 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.49 and a current ratio of 8.49. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $7.99. The company has a 50-day simple moving average of $3.88 and a 200-day simple moving average of $4.22. The firm has a market capitalization of $1.11 billion, a P/E ratio of 59.67 and a beta of 2.24.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $36.81 million for the quarter, compared to analyst estimates of $39.17 million. Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. During the same quarter last year, the business earned ($0.05) earnings per share. As a group, equities analysts expect that Cipher Mining Inc. will post -0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CIFR. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a report on Tuesday, September 3rd. Needham & Company LLC raised their price objective on Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Northland Securities initiated coverage on shares of Cipher Mining in a research note on Wednesday, September 25th. They set an “outperform” rating and a $6.00 target price for the company. Compass Point increased 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. Finally, Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.21.

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.