Wellington Management Group LLP Has $263,000 Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Wellington Management Group LLP lessened its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,993 shares of the company’s stock after selling 3,801 shares during the period. Wellington Management Group LLP’s holdings in Cipher Mining were worth $263,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Cipher Mining by 122.8% in 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 during the last quarter. Van ECK Associates Corp lifted its holdings 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 worth $15,094,000 after purchasing an additional 1,144,390 shares during the last quarter. Paloma Partners Management Co bought a new stake in Cipher Mining during the third quarter worth approximately $4,029,000. State Street Corp grew its holdings in Cipher Mining by 17.3% during the third quarter. State Street Corp now owns 6,919,189 shares of the company’s stock valued at $26,777,000 after purchasing an additional 1,019,949 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cipher Mining by 71.0% in the third 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 during the period. 12.26% of the stock is currently owned by institutional investors.

Insider Activity at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.22, for a total value of $6,220,000.00. Following the sale, the insider now owns 99,047,588 shares of the company’s stock, valued at $616,075,997.36. The trade was a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick Arthur Kelly sold 53,161 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.16, for a total value of $380,632.76. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,596,623 shares of company stock valued at $9,591,561 over the last quarter. 2.25% of the stock is owned by company insiders.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $5.73 on Friday. The firm has a market capitalization of $1.99 billion, a PE ratio of -44.07 and a beta of 2.29. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 1-year low of $2.15 and a 1-year high of $7.99. The business’s 50 day moving average is $6.09 and its 200-day moving average is $4.88.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results 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). 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 the consensus estimate of $25.84 million. During the same period last year, the firm earned ($0.07) EPS. Sell-side analysts predict that Cipher Mining Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on CIFR. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price target on shares of Cipher Mining in a report on Thursday, October 3rd. Macquarie lifted their price objective on Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $7.50 target price on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Northland Securities lifted their price target on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and an average price target 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.