XTX Topco Ltd Sells 18,732 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

XTX Topco Ltd lowered its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 33.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,856 shares of the company’s stock after selling 18,732 shares during the quarter. XTX Topco Ltd’s holdings in Cipher Mining were worth $147,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CIFR. Paloma Partners Management Co bought a new stake in Cipher Mining in the third quarter worth $4,029,000. Dark Forest Capital Management LP purchased a new stake in Cipher Mining in the second quarter worth $1,332,000. Bank of New York Mellon Corp boosted its stake in shares of Cipher Mining by 243.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock valued at $2,279,000 after purchasing an additional 389,079 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cipher Mining by 47.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company’s stock worth $383,000 after acquiring an additional 31,815 shares during the period. Finally, Duncan Williams Asset Management LLC purchased a new stake in Cipher Mining in the third quarter worth $553,000. Institutional investors own 12.26% of the company’s stock.

Insider Activity at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 53,161 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 664,270 shares of the company’s stock, valued at approximately $4,756,173.20. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total value of $1,980,000.00. Following the sale, the insider now directly owns 98,747,588 shares in the company, valued at $651,734,080.80. This trade represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,596,623 shares of company stock worth $9,591,561 over the last 90 days. Company insiders own 2.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CIFR shares. Needham & Company LLC reissued a “buy” rating and issued a $7.50 target price on shares of Cipher Mining in a report on Friday, November 1st. Macquarie boosted their target price on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Northland Capmk raised Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a research note on Tuesday, December 10th. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $8.03.

Cipher Mining Price Performance

Shares of Cipher Mining stock opened at $5.73 on Friday. Cipher Mining Inc. has a twelve month low of $2.15 and a twelve month high of $7.99. The firm has a market cap of $1.99 billion, a PE ratio of -44.07 and a beta of 2.29. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $6.09 and a 200 day moving average price of $4.88.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Thursday, October 31st. The company reported ($0.26) 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 for the quarter, compared to analyst estimates of $25.84 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. Sell-side analysts predict that Cipher Mining Inc. will post -0.18 earnings per share for the current fiscal year.

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.