Cipher Mining Inc. (NASDAQ:CIFR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 21.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,895 shares of the company’s stock after acquiring an additional 4,256 shares during the period. Victory Capital Management Inc.’s holdings in Cipher Mining were worth $99,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Cipher Mining by 62.0% during the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after purchasing an additional 2,164,383 shares in the last quarter. Van ECK Associates Corp raised its stake in Cipher Mining by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,755,829 shares of the company’s stock worth $11,437,000 after acquiring an additional 22,086 shares in the last quarter. First Financial Bankshares Inc purchased a new stake in Cipher Mining in the fourth quarter valued at $9,901,000. Vident Advisory LLC lifted its position in Cipher Mining by 94.9% in the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock valued at $11,537,000 after acquiring an additional 1,090,811 shares during the last quarter. Finally, Shariaportfolio Inc. acquired a new position in Cipher Mining in the fourth quarter valued at $2,460,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CIFR. Compass Point lifted their target price on Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a research note on Tuesday, September 3rd. Needham & Company LLC raised their target price on shares of Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research report on Thursday, August 29th. Finally, HC Wainwright raised their price objective on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $7.42.

Insider Activity

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $6.23, for a total value of $3,798,082.12. Following the completion of the transaction, the insider now owns 109,911,187 shares in the company, valued at $684,746,695.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 6,803,255 shares of company stock valued at $22,224,612 in the last three months. 2.25% of the stock is currently owned by company insiders.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $3.44 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.49 and a quick ratio of 8.49. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 57.33 and a beta of 2.24. The firm’s fifty day moving average price is $4.07 and its 200 day moving average price is $4.20. Cipher Mining Inc. has a 1-year low of $2.15 and a 1-year high of $7.99.

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

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.