AQR Capital Management LLC Acquires 24,842 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

AQR Capital Management LLC lifted its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 55.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,789 shares of the company’s stock after buying an additional 24,842 shares during the quarter. AQR Capital Management LLC’s holdings in Cipher Mining were worth $290,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cipher Mining by 62.0% in the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after buying an additional 2,164,383 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Cipher Mining by 38.9% in the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock valued at $14,079,000 after buying an additional 765,238 shares during the last quarter. Swiss National Bank raised its holdings in shares of Cipher Mining by 27.0% in the first quarter. Swiss National Bank now owns 125,600 shares of the company’s stock valued at $647,000 after buying an additional 26,700 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Cipher Mining by 243.2% in the second quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock valued at $2,279,000 after buying an additional 389,079 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Cipher Mining by 19.4% in the first quarter. California State Teachers Retirement System now owns 61,546 shares of the company’s stock valued at $317,000 after buying an additional 10,019 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

CIFR has been the subject of a number of research reports. Northland Securities initiated coverage on Cipher Mining in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a research report on Thursday, August 29th. Compass Point lifted their price objective on Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Stifel Canada upgraded Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cipher Mining has a consensus rating of “Buy” and an average price target of $7.21.

Cipher Mining Price Performance

Cipher Mining stock opened at $5.01 on Thursday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 83.50 and a beta of 2.25. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99. The business has a 50-day moving average of $3.64 and a 200-day moving average of $4.17. 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 (NASDAQ:CIFR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. The company had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. During the same period in the previous year, the company earned ($0.05) EPS. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.04 EPS for the current year.

Insider Activity

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $2.74, for a total transaction of $5,209,046.88. Following the transaction, the insider now owns 103,946,004 shares in the company, valued at $284,812,050.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Cipher Mining news, insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total value of $591,000.00. Following the sale, the insider now owns 619,148 shares in the company, valued at approximately $2,439,443.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $2.74, for a total value of $5,209,046.88. Following the completion of the sale, the insider now owns 103,946,004 shares in the company, valued at $284,812,050.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,853,336 shares of company stock worth $16,997,597 in the last 90 days. Corporate insiders own 2.25% of the company’s stock.

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.