Vontobel Holding Ltd. Trims Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Vontobel Holding Ltd. decreased its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 26.0% during the third quarter, Holdings Channel reports. The institutional investor owned 119,132 shares of the company’s stock after selling 41,777 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cipher Mining were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Cipher Mining by 62.0% in the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after purchasing an additional 2,164,383 shares in the last quarter. Millennium Management LLC boosted its holdings in Cipher Mining by 122.8% during the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after buying an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp grew its position in Cipher Mining by 0.8% during the second quarter. Van ECK Associates Corp now owns 2,755,829 shares of the company’s stock valued at $11,437,000 after buying an additional 22,086 shares during the period. Vident Advisory LLC increased its holdings in Cipher Mining by 94.9% in the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock valued at $11,537,000 after buying an additional 1,090,811 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Cipher Mining by 243.2% in the second quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after acquiring an additional 389,079 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $2.74, for a total transaction of $5,209,046.88. Following the transaction, the insider now directly owns 103,946,004 shares in the company, valued at $284,812,050.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cipher Mining news, COO Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the transaction, the chief operating officer now directly owns 717,431 shares of the company’s stock, valued at $3,135,173.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $2.74, for a total transaction of $5,209,046.88. Following the completion of the transaction, the insider now owns 103,946,004 shares in the company, valued at $284,812,050.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,943,078 shares of company stock worth $17,389,769. Insiders own 2.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a research report on Thursday, October 3rd. Stifel Canada raised Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on shares of Cipher Mining in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 price target on the stock. Finally, Macquarie began coverage on shares of Cipher Mining in a research report on Tuesday, September 24th. They set an “outperform” rating and a $6.00 price objective for the company. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $7.21.

Cipher Mining Stock Up 8.2 %

NASDAQ CIFR opened at $5.38 on Tuesday. The business has a fifty day moving average price of $3.70 and a 200 day moving average price of $4.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.49 and a current ratio of 8.49. The company has a market cap of $1.67 billion, a P/E ratio of 89.67 and a beta of 2.25. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $7.99.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $36.81 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned ($0.05) earnings per share. Research analysts anticipate that Cipher Mining Inc. will post -0.04 EPS for the current fiscal year.

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.