Hennion & Walsh Asset Management Inc. Acquires 37,162 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Hennion & Walsh Asset Management Inc. boosted its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 25.5% in the fourth quarter, HoldingsChannel reports. The firm owned 182,897 shares of the company’s stock after purchasing an additional 37,162 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Cipher Mining were worth $849,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in shares of Cipher Mining by 17.3% in the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company’s stock valued at $26,777,000 after acquiring an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cipher Mining by 37.8% in the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after purchasing an additional 1,511,455 shares during the period. Millennium Management LLC increased its stake in Cipher Mining by 122.8% in the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after purchasing an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Cipher Mining by 41.5% during the third quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after purchasing an additional 1,144,390 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of Cipher Mining by 73.4% during the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after purchasing an additional 1,584,874 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.22, for a total value of $6,220,000.00. Following the sale, the insider now directly owns 99,047,588 shares in the company, valued at $616,075,997.36. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Patrick Arthur Kelly sold 53,161 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $7.16, for a total value of $380,632.76. Following the transaction, the chief operating officer now owns 664,270 shares of the company’s stock, valued at approximately $4,756,173.20. The trade was a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,356,881 shares of company stock worth $8,608,389 over the last quarter. 2.25% of the stock is currently owned by company insiders.

Cipher Mining Stock Up 4.4 %

CIFR stock opened at $5.43 on Monday. Cipher Mining Inc. has a 1-year low of $2.15 and a 1-year high of $7.99. The stock has a market cap of $1.89 billion, a P/E ratio of -41.77 and a beta of 2.38. The stock’s fifty day simple moving average is $5.98 and its two-hundred day simple moving average is $4.97. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly 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). The company had revenue of $24.10 million during 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 firm posted ($0.07) EPS. Analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Northland Capmk raised Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. Northland Securities increased their target price on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Macquarie boosted their price target on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, BTIG Research raised their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.25.

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.