Duncan Williams Asset Management LLC Sells 6,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Duncan Williams Asset Management LLC trimmed its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,000 shares of the company’s stock after selling 6,000 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in Cipher Mining were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CIFR. Amalgamated Bank boosted its position in Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after buying an additional 4,557 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cipher Mining by 912.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock worth $28,000 after buying an additional 5,432 shares during the period. Farther Finance Advisors LLC bought a new position in shares of Cipher Mining during the third quarter worth $33,000. Xponance Inc. acquired a new stake in shares of Cipher Mining during the second quarter worth about $45,000. Finally, FNY Investment Advisers LLC bought a new stake in Cipher Mining in the 4th quarter valued at $51,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Patrick Arthur Kelly sold 53,161 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $4,756,173.20. This represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the transaction, the insider now directly owns 98,747,588 shares in the company, valued at approximately $651,734,080.80. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,356,881 shares of company stock valued at $8,608,389. 2.25% of the stock is owned by insiders.

Cipher Mining Trading Up 6.7 %

NASDAQ CIFR opened at $5.90 on Friday. 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 stock has a 50 day simple moving average of $5.84 and a two-hundred day simple moving average of $5.00. The stock has a market cap of $2.05 billion, a P/E ratio of -45.38 and a beta of 2.38. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The business had revenue of $24.10 million during the quarter, compared to analysts’ expectations of $25.84 million. During the same quarter last year, the company posted ($0.07) EPS. On average, analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

CIFR has been the topic of several analyst reports. BTIG Research upped their target price on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Northland Securities raised their price target on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Macquarie upped their price target on shares of Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 target price on shares of Cipher Mining in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of Cipher Mining in a research note on Tuesday, January 7th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.25.

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.