Cipher Mining Inc. (NASDAQ:CIFR) Shares Bought by TRU Independence Asset Management 2 LLC

TRU Independence Asset Management 2 LLC increased its position in Cipher Mining Inc. (NASDAQ:CIFR) by 66.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 56,760 shares of the company’s stock after acquiring an additional 22,760 shares during the period. TRU Independence Asset Management 2 LLC’s holdings in Cipher Mining were worth $263,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Cipher Mining by 122.8% during the 2nd 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 during the period. Tidal Investments LLC grew its holdings in shares of Cipher Mining by 73.4% during the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock valued at $14,485,000 after buying an additional 1,584,874 shares in the last quarter. Geode Capital Management LLC grew its position in Cipher Mining by 37.8% during the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock valued at $21,327,000 after purchasing an additional 1,511,455 shares in the last quarter. Van ECK Associates Corp increased its stake in Cipher Mining by 41.5% in the 3rd quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after buying an additional 1,144,390 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Cipher Mining in the 3rd quarter worth approximately $4,029,000. Institutional investors own 12.26% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $6.60, for a total value of $1,980,000.00. Following the transaction, the insider now owns 98,747,588 shares in the company, valued at $651,734,080.80. This trade represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Arthur Kelly sold 53,161 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were 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 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. Insiders have sold a total of 356,881 shares of company stock valued at $2,388,389 in the last 90 days. 2.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price objective on shares of Cipher Mining in a report on Tuesday, January 7th. Northland Securities raised their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. BTIG Research boosted their target price on shares of Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and an average price target of $8.25.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $4.51 on Tuesday. The stock’s fifty day simple moving average is $5.84 and its 200 day simple moving average is $5.01. Cipher Mining Inc. has a one year low of $2.40 and a one year high of $7.99. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data 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). The firm had revenue of $24.10 million for the quarter, compared to the consensus estimate 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 prior year, the company posted ($0.07) earnings per share. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.31 EPS 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.