FNY Investment Advisers LLC Acquires Shares of 11,200 Cipher Mining Inc. (NASDAQ:CIFR)

FNY Investment Advisers LLC bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 11,200 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors have also made changes to their positions in the business. Amalgamated Bank boosted its position in Cipher Mining by 321.8% during the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of Cipher Mining during the 3rd quarter worth about $33,000. Xponance Inc. bought a new stake in shares of Cipher Mining during the 2nd quarter worth about $45,000. W Advisors LLC acquired a new position in Cipher Mining in the 3rd quarter valued at about $45,000. Finally, Prospect Financial Services LLC bought a new position in Cipher Mining in the 3rd quarter valued at about $47,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 owns 664,270 shares of the company’s stock, valued at approximately $4,756,173.20. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the completion of the sale, the insider now owns 99,047,588 shares in the company, valued at approximately $616,075,997.36. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,356,881 shares of company stock worth $8,608,389. Insiders own 2.25% of the company’s stock.

Cipher Mining Stock Up 5.9 %

CIFR stock opened at $5.24 on Thursday. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99. The business has a 50-day simple moving average of $6.04 and a 200 day simple moving average of $4.96. 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 company has a market cap of $1.82 billion, a PE ratio of -40.30 and a beta of 2.38.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). The firm had revenue of $24.10 million for the quarter, compared to the consensus estimate of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same period last year, the company posted ($0.07) EPS. Sell-side analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CIFR shares. BTIG Research boosted their price objective on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Macquarie boosted their price target on Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. Keefe, Bruyette & Woods started coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Finally, Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $8.25.

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.