Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 30.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,130 shares of the company’s stock after purchasing an additional 3,086 shares during the period. Verition Fund Management LLC’s holdings in Cipher Mining were worth $51,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CIFR. Wealth Enhancement Advisory Services LLC increased its holdings in Cipher Mining by 16.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 122,481 shares of the company’s stock valued at $508,000 after buying an additional 17,254 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Cipher Mining by 13.1% in the 2nd 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in 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. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cipher Mining by 93.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,482 shares of the company’s stock worth $89,000 after purchasing an additional 10,380 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Cipher Mining during the second quarter worth $88,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Insider Buying and Selling

In other Cipher Mining 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 value of $591,000.00. Following the transaction, the insider now owns 619,148 shares in the company, valued at $2,439,443.12. This trade represents a 19.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick Arthur Kelly sold 53,161 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 664,270 shares of the company’s stock, valued at approximately $4,756,173.20. The trade was a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,593,503 shares of company stock worth $9,568,005. 2.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CIFR shares. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research report on Friday, November 1st. BTIG Research raised their target price on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a report on Friday, November 15th. Northland Securities upped their price target on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research report on Friday, November 1st. Finally, Macquarie upped their target price on Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cipher Mining currently has an average rating of “Buy” and a consensus target price of $8.03.

Cipher Mining Stock Performance

Shares of CIFR opened at $7.23 on Wednesday. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99. The company’s 50 day simple moving average is $5.97 and its 200 day simple moving average is $4.85. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -55.62 and a beta of 2.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results 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 business had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. During the same quarter last year, the firm posted ($0.07) earnings per share. On average, sell-side analysts predict that Cipher Mining Inc. will post -0.18 EPS for the current 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.