Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by State Street Corp

State Street Corp boosted its position in Cipher Mining Inc. (NASDAQ:CIFR) by 17.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,919,189 shares of the company’s stock after purchasing an additional 1,019,949 shares during the quarter. State Street Corp’s holdings in Cipher Mining were worth $26,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CIFR. Millennium Management LLC grew 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 worth $22,123,000 after buying an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp boosted its position in Cipher Mining by 41.5% during the third quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock worth $15,094,000 after acquiring an additional 1,144,390 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Cipher Mining in the 3rd quarter worth approximately $4,029,000. Charles Schwab Investment Management Inc. grew its stake in Cipher Mining by 71.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock worth $9,118,000 after acquiring an additional 977,963 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Cipher Mining during the 2nd quarter worth $2,142,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Activity at Cipher Mining

In other news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the transaction, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The trade was a 19.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Patrick Arthur Kelly sold 89,742 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the sale, the chief operating officer now directly owns 717,431 shares of the company’s stock, valued at approximately $3,135,173.47. The trade was a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,596,623 shares of company stock worth $9,591,561. Corporate insiders own 2.25% of the company’s stock.

Cipher Mining Stock Down 0.2 %

CIFR opened at $5.73 on Monday. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99. The firm has a 50 day moving average price of $6.09 and a 200 day moving average price of $4.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The company has a market cap of $1.99 billion, a PE ratio of -44.07 and a beta of 2.29.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data 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). The business had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same period in the previous year, the company earned ($0.07) EPS. Sell-side analysts expect that Cipher Mining Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CIFR. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Cipher Mining in a research note on Friday, November 1st. BTIG Research upped their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Finally, HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $8.03.

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.