XTX Topco Ltd Reduces Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

XTX Topco Ltd lessened its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 33.1% during the 3rd quarter, Holdings Channel reports. The firm owned 37,856 shares of the company’s stock after selling 18,732 shares during the quarter. XTX Topco Ltd’s holdings in Cipher Mining were worth $147,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Amalgamated Bank lifted its stake in Cipher Mining by 321.8% in the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after buying an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of Cipher Mining in the third quarter valued at $33,000. Xponance Inc. purchased a new stake in shares of Cipher Mining in the second quarter valued at $45,000. W Advisors LLC acquired a new stake in shares of Cipher Mining during the third quarter valued at $45,000. Finally, Prospect Financial Services LLC purchased a new stake in Cipher Mining during the 3rd quarter worth about $47,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CIFR. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Canaccord Genuity Group restated a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research report on Friday, November 1st. Macquarie boosted their price target on Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a report on Thursday, November 7th. Northland Securities raised their price objective on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $8.03.

Cipher Mining Trading Down 0.2 %

Shares of CIFR opened at $5.73 on Friday. The stock’s fifty day simple moving average is $6.09 and its 200 day simple moving average is $4.88. Cipher Mining Inc. has a twelve month low of $2.15 and a twelve month high of $7.99. 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 firm has a market capitalization of $1.99 billion, a P/E ratio of -44.07 and a beta of 2.29.

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

Insider Buying and Selling at Cipher Mining

In related 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 transaction, the insider now owns 619,148 shares in the company, valued at approximately $2,439,443.12. The trade was a 19.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the sale, the insider now directly owns 99,047,588 shares of the company’s stock, valued at approximately $616,075,997.36. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,596,623 shares of company stock valued at $9,591,561 over the last ninety days. Corporate insiders own 2.25% of the company’s stock.

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.