Rhumbline Advisers Buys 162,749 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Rhumbline Advisers boosted its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 253.7% in the 2nd quarter, Holdings Channel reports. The firm owned 226,905 shares of the company’s stock after acquiring an additional 162,749 shares during the quarter. Rhumbline Advisers’ holdings in Cipher Mining were worth $942,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. boosted its stake in Cipher Mining by 50.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 5,000 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Cipher Mining in the 1st quarter valued at about $52,000. Gabelli Funds LLC raised its holdings in shares of Cipher Mining by 25.0% in the 1st quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock valued at $258,000 after acquiring an additional 10,000 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Cipher Mining by 19.4% in the 1st quarter. California State Teachers Retirement System now owns 61,546 shares of the company’s stock valued at $317,000 after acquiring an additional 10,019 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cipher Mining by 93.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,482 shares of the company’s stock valued at $89,000 after acquiring an additional 10,380 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $2.99 on Tuesday. The stock has a market cap of $926.99 million, a price-to-earnings ratio of 49.83 and a beta of 2.24. The company has a current ratio of 8.49, a quick ratio of 8.49 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 stock’s 50-day moving average is $4.13 and its 200 day moving average is $4.20.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $36.81 million for the quarter, compared to analysts’ expectations of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same period last year, the firm posted ($0.05) EPS. On average, sell-side analysts anticipate that Cipher Mining Inc. will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $2.87, for a total transaction of $5,456,191.44. Following the transaction, the insider now directly owns 102,044,892 shares in the company, valued at approximately $292,868,840.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 7,270,170 shares of company stock worth $24,232,346 in the last ninety days. 2.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Compass Point raised their price target on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Needham & Company LLC raised their price target on Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a report on Wednesday, August 14th. HC Wainwright raised their price target on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price target on shares of Cipher Mining in a report on Tuesday, September 3rd. Finally, Stifel Canada raised Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $7.70.

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.