MetLife Investment Management LLC Has $335,000 Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

MetLife Investment Management LLC lowered its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,602 shares of the company’s stock after selling 14,727 shares during the quarter. MetLife Investment Management LLC’s holdings in Cipher Mining were worth $335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CIFR. Price T Rowe Associates Inc. MD acquired a new stake in Cipher Mining in the first quarter valued at approximately $59,000. California State Teachers Retirement System grew its position in Cipher Mining by 19.4% during the 1st quarter. California State Teachers Retirement System now owns 61,546 shares of the company’s stock worth $317,000 after acquiring an additional 10,019 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Cipher Mining by 16.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 122,481 shares of the company’s stock worth $508,000 after purchasing an additional 17,254 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Cipher Mining by 13.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 149,659 shares of the company’s stock valued at $621,000 after purchasing an additional 17,355 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Cipher Mining by 243.2% during the second quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after purchasing an additional 389,079 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 target price on shares of Cipher Mining in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price target on shares of Cipher Mining in a research note on Thursday, October 3rd. BTIG Research lifted their price objective on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cipher Mining currently has an average rating of “Buy” and a consensus target price of $8.03.

Insider Buying and Selling

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $6.60, for a total value of $1,980,000.00. Following the transaction, the insider now directly owns 98,747,588 shares in the company, valued at $651,734,080.80. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Arthur Kelly sold 89,742 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total value of $392,172.54. Following the transaction, the chief operating officer now directly owns 717,431 shares of the company’s stock, valued at approximately $3,135,173.47. This trade represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,593,503 shares of company stock worth $9,568,005. 2.25% of the stock is owned by company insiders.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $7.11 on Monday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.47 billion, a PE ratio of -54.69 and a beta of 2.29. The stock’s fifty day simple moving average is $5.59 and its two-hundred day simple moving average is $4.71. Cipher Mining Inc. has a 1-year low of $2.15 and a 1-year high of $7.99.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The firm had revenue of $24.10 million during the quarter, compared to the consensus estimate of $25.84 million. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, analysts forecast that Cipher Mining Inc. will post -0.18 EPS for the current fiscal year.

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.