Duncan Williams Asset Management LLC Purchases Shares of 143,000 Cipher Mining Inc. (NASDAQ:CIFR)

Duncan Williams Asset Management LLC purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 143,000 shares of the company’s stock, valued at approximately $553,000.

A number of other institutional investors and hedge funds have also modified their holdings of CIFR. Amalgamated Bank raised its holdings in Cipher Mining by 321.8% in the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after acquiring an additional 4,557 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Cipher Mining in the first quarter valued at about $52,000. Xponance Inc. acquired a new stake in shares of Cipher Mining in the second quarter valued at about $45,000. Price T Rowe Associates Inc. MD bought a new position in shares of Cipher Mining in the first quarter worth about $59,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cipher Mining during the 3rd quarter worth about $49,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Trading Down 0.8 %

Shares of Cipher Mining stock opened at $3.82 on Friday. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $7.99. The firm has a market capitalization of $1.18 billion, a PE ratio of 63.67 and a beta of 2.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.49 and a quick ratio of 8.49. The company’s fifty day moving average price is $3.75 and its two-hundred day moving average price is $4.22.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The business had revenue of $36.81 million for the quarter, compared to analysts’ expectations of $39.17 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, analysts expect that Cipher Mining Inc. will post -0.05 EPS for the current year.

Analysts Set New Price Targets

CIFR has been the topic of a number of research analyst reports. Compass Point raised their target price on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Macquarie started coverage on shares of Cipher Mining in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $6.00 price objective on the stock. Northland Securities started coverage on shares of Cipher Mining in a research report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price target on shares of Cipher Mining in a report on Thursday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a report on Thursday, August 29th. One investment 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $7.21.

Insider Activity

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total value of $5,741,358.24. Following the completion of the transaction, the insider now directly owns 107,748,228 shares of the company’s stock, valued at approximately $325,399,648.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total value of $591,000.00. Following the sale, the insider now owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $5,741,358.24. Following the completion of the sale, the insider now directly owns 107,748,228 shares in the company, valued at approximately $325,399,648.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,462,980 shares of company stock worth $20,795,679. Company insiders own 2.25% of the company’s stock.

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.