Algert Global LLC Acquires Shares of 17,958 Cipher Mining Inc. (NASDAQ:CIFR)

Algert Global LLC bought a new position in Cipher Mining Inc. (NASDAQ:CIFR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,958 shares of the company’s stock, valued at approximately $75,000.

Several other institutional investors also recently modified their holdings of CIFR. Amalgamated Bank boosted its position in Cipher Mining by 321.8% in 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 during the last quarter. Xponance Inc. bought a new position in Cipher Mining during the second quarter valued at about $45,000. Janney Montgomery Scott LLC purchased a new stake in Cipher Mining during the first quarter worth about $52,000. Price T Rowe Associates Inc. MD bought a new stake in Cipher Mining in the first quarter worth about $59,000. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Cipher Mining by 50.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after acquiring an additional 5,000 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Cipher Mining Trading Up 14.2 %

Shares of Cipher Mining stock opened at $4.19 on Friday. The company’s 50-day moving average price is $3.61 and its 200-day moving average price is $4.20. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 69.83 and a beta of 2.25.

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 firm had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. During the same period last year, the firm earned ($0.05) EPS. On average, equities analysts expect that Cipher Mining Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Compass Point lifted their price target 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price target on shares of Cipher Mining in a research note on Thursday, October 3rd. Macquarie assumed coverage on shares of Cipher Mining in a report on Tuesday, September 24th. They set an “outperform” rating and a $6.00 price objective on the stock. Finally, Northland Securities began coverage on shares of Cipher Mining in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $7.21.

Insider Activity at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 107,748,228 shares in the company, valued at $325,399,648.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider William Iwaschuk sold 150,000 shares of Cipher Mining stock in a transaction 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 sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the 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 transaction, the insider now directly owns 107,748,228 shares in the company, valued at approximately $325,399,648.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,462,980 shares of company stock valued at $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.