Dimensional Fund Advisors LP Buys New Stake in Cipher Mining Inc. (NASDAQ:CIFR)

Dimensional Fund Advisors LP bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the second quarter, Holdings Channel reports. The fund bought 516,125 shares of the company’s stock, valued at approximately $2,142,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in Cipher Mining during the first quarter valued at $52,000. Price T Rowe Associates Inc. MD acquired a new position in Cipher Mining during the first quarter valued at $59,000. SG Americas Securities LLC acquired a new position in Cipher Mining during the first quarter valued at $74,000. B. Riley Wealth Advisors Inc. lifted its position in Cipher Mining by 50.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after purchasing an additional 5,000 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Cipher Mining during the second quarter valued at $88,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cipher Mining

In other news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the completion of the sale, the insider now owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $2.87, for a total transaction of $5,456,191.44. Following the completion of the sale, the insider now owns 102,044,892 shares of the company’s stock, valued at approximately $292,868,840.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Iwaschuk sold 150,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,462,980 shares of company stock valued at $20,795,679 over the last 90 days. Corporate insiders own 2.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CIFR. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Thursday, October 3rd. Compass Point upped their price objective on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a research report on Thursday, August 29th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Buy” and an average target price of $7.21.

Cipher Mining Stock Up 14.2 %

CIFR stock opened at $4.19 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 69.83 and a beta of 2.25. The firm has a 50-day simple moving average of $3.61 and a 200-day simple moving average of $4.20. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, hitting 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 quarter in the previous year, the company earned ($0.05) earnings per share. Equities analysts forecast that Cipher Mining Inc. will post -0.04 earnings per share 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.