Nisa Investment Advisors LLC Has $28,000 Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Nisa Investment Advisors LLC grew its position in Cipher Mining Inc. (NASDAQ:CIFR) by 912.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,027 shares of the company’s stock after purchasing an additional 5,432 shares during the period. Nisa Investment Advisors LLC’s holdings in Cipher Mining were worth $28,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new stake in shares of Cipher Mining in the 2nd quarter valued at approximately $2,142,000. Xponance Inc. acquired a new stake in Cipher Mining in the second quarter valued at approximately $45,000. AQR Capital Management LLC grew its position in Cipher Mining by 55.3% in the second quarter. AQR Capital Management LLC now owns 69,789 shares of the company’s stock worth $290,000 after acquiring an additional 24,842 shares in the last quarter. Millennium Management LLC increased its stake in shares of Cipher Mining by 122.8% during the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after purchasing an additional 2,938,184 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Cipher Mining by 246.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,126 shares of the company’s stock valued at $279,000 after purchasing an additional 47,738 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CIFR shares. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. BTIG Research raised their price objective on Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Cipher Mining in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.50 price target on shares of Cipher Mining in a report on Friday. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $8.25.

Insider Transactions at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 53,161 shares of the company’s 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 owns 664,270 shares of the company’s stock, valued at $4,756,173.20. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of Cipher Mining stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total value of $1,980,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 356,881 shares of company stock worth $2,388,389. 2.25% of the stock is currently owned by company insiders.

Cipher Mining Stock Up 21.9 %

Shares of CIFR stock opened at $5.73 on Friday. Cipher Mining Inc. has a 12 month low of $2.40 and a 12 month high of $7.99. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.99 billion, a PE ratio of -44.07 and a beta of 2.38. The stock has a 50 day moving average of $5.69 and a 200-day moving average of $5.00.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The company had revenue of $24.10 million for the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, equities analysts predict 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.