Chesapeake Capital Corp IL Has $182,000 Stock Position in Cipher Mining Inc. (NASDAQ:CIFR)

Chesapeake Capital Corp IL decreased its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,400 shares of the company’s stock after selling 5,129 shares during the period. Chesapeake Capital Corp IL’s holdings in Cipher Mining were worth $182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in Cipher Mining by 38.9% during the 1st quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock valued at $14,079,000 after purchasing an additional 765,238 shares during the period. First Financial Bankshares Inc acquired a new position in Cipher Mining during the 4th quarter valued at about $9,901,000. Shariaportfolio Inc. acquired a new position in Cipher Mining during the 4th quarter valued at about $2,460,000. Hel Ved Capital Management Ltd acquired a new position in Cipher Mining during the 4th quarter valued at about $1,310,000. Finally, Cantor Fitzgerald L. P. acquired a new position in Cipher Mining during the 4th quarter valued at about $747,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CIFR shares. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a research report on Friday, June 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price target (up from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. HC Wainwright increased their price target on shares of Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Cantor Fitzgerald started coverage on shares of Cipher Mining in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.40.

Insider Buying and Selling

In related news, major shareholder Top Holdco B.V. Bitfury sold 490,275 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $4.12, for a total transaction of $2,019,933.00. Following the completion of the sale, the insider now directly owns 110,520,831 shares of the company’s stock, valued at approximately $455,345,823.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 4,692,735 shares of company stock valued at $20,486,934. 2.25% of the stock is owned by corporate insiders.

Cipher Mining Stock Up 3.2 %

NASDAQ CIFR traded up $0.19 during trading hours on Friday, reaching $6.19. 10,539,383 shares of the company’s stock were exchanged, compared to its average volume of 11,794,690. The company’s 50-day moving average is $4.50 and its two-hundred day moving average is $3.96. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $7.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.08 and a current ratio of 8.08. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 103.18 and a beta of 2.29.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%. The business had revenue of $48.14 million during the quarter, compared to analysts’ expectations of $50.05 million.

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.