Cipher Mining Inc. (NASDAQ:CIFR) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 10.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 216,673 shares of the company’s stock after selling 25,227 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cipher Mining were worth $839,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CIFR. Millennium Management LLC increased its holdings in shares of Cipher Mining by 122.8% during the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after acquiring an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp increased its stake in Cipher Mining by 41.5% during the 3rd quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after purchasing an additional 1,144,390 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cipher Mining by 71.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock valued at $9,118,000 after purchasing an additional 977,963 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Cipher Mining by 243.2% in the second quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after buying an additional 389,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Cipher Mining during the second quarter worth $2,142,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Activity

In other news, COO Patrick Arthur Kelly sold 53,161 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $7.16, for a total transaction of $380,632.76. Following the transaction, the chief operating officer now owns 664,270 shares in the company, valued at $4,756,173.20. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of Cipher Mining stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the completion of the sale, the insider now directly owns 98,747,588 shares in the company, valued at $651,734,080.80. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,596,623 shares of company stock worth $9,591,561 in the last ninety days. Company insiders own 2.25% of the company’s stock.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $5.74 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -44.15 and a beta of 2.29. The firm’s 50 day simple moving average is $6.06 and its 200-day simple moving average is $4.86. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $7.99.

Cipher Mining (NASDAQ:CIFR) last released its quarterly 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 firm 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 prior year, the business posted ($0.07) EPS. Analysts expect that Cipher Mining Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CIFR shares. BTIG Research upped their target price on Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a report on Tuesday, December 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Northland Securities increased their price target on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $8.03.

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.