Barclays PLC Raises Position in Cipher Mining Inc. (NASDAQ:CIFR)

Barclays PLC lifted its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 377.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 296,493 shares of the company’s stock after buying an additional 234,366 shares during the quarter. Barclays PLC’s holdings in Cipher Mining were worth $1,147,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several 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 reiterated an “overweight” rating and set a $11.00 target price on shares of Cipher Mining in a research note on Tuesday, January 7th. BTIG Research increased their target price on shares of Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a report on Friday, November 1st. Finally, Northland Securities increased their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and a consensus price target of $8.25.

Insider Buying and Selling at Cipher Mining

In related news, 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 shares were sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the completion of the sale, the insider now directly owns 99,047,588 shares of the company’s stock, valued at approximately $616,075,997.36. This represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Arthur Kelly sold 53,161 shares of Cipher Mining stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $7.16, for a total value of $380,632.76. Following the completion of the transaction, the chief operating officer now directly owns 664,270 shares in the company, valued at approximately $4,756,173.20. This represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,356,881 shares of company stock valued at $8,608,389 in the last quarter. Company insiders own 2.25% of the company’s stock.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $4.81 on Tuesday. The firm’s 50-day simple moving average is $6.09 and its 200 day simple moving average is $4.95. The stock has a market cap of $1.67 billion, a P/E ratio of -37.00 and a beta of 2.38. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $25.84 million. During the same quarter last year, the business posted ($0.07) earnings per share. Equities analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

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.