Victory Capital Management Inc. Purchases 2,101 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Victory Capital Management Inc. raised its position in Cipher Mining Inc. (NASDAQ:CIFR) by 8.8% during the third quarter, HoldingsChannel.com reports. The firm owned 25,996 shares of the company’s stock after purchasing an additional 2,101 shares during the period. Victory Capital Management Inc.’s holdings in Cipher Mining were worth $101,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CIFR. Vanguard Group Inc. lifted its stake in shares of Cipher Mining by 62.0% during the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after acquiring an additional 2,164,383 shares during the last quarter. Millennium Management LLC grew its position in Cipher Mining by 122.8% in the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after acquiring an additional 2,938,184 shares during the last quarter. Van ECK Associates Corp increased its stake in Cipher Mining by 41.5% in the third 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 period. Bank of New York Mellon Corp lifted its position in shares of Cipher Mining by 243.2% during the second quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after purchasing an additional 389,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Cipher Mining during the second quarter valued at $2,142,000. Institutional investors own 12.26% of the company’s stock.

Insider Transactions at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 103,946,004 shares of the company’s stock, valued at approximately $284,812,050.96. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 89,742 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total value of $392,172.54. Following the sale, the chief operating officer now directly owns 717,431 shares in the company, valued at $3,135,173.47. This represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,296,839 shares of company stock worth $25,974,602 over the last three months. 2.25% of the stock is currently owned by insiders.

Cipher Mining Trading Up 3.9 %

NASDAQ CIFR opened at $6.70 on Monday. Cipher Mining Inc. has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $4.62. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.33 billion, a P/E ratio of -51.53 and a beta of 2.18.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The firm had revenue of $24.10 million during the quarter, compared to analysts’ expectations of $25.84 million. During the same quarter last year, the business earned ($0.07) EPS. On average, analysts forecast that Cipher Mining Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CIFR. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Compass Point boosted 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. Macquarie upped their price target on shares of Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $7.72.

Cipher Mining Company 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.