54,286 Shares in Cipher Mining Inc. (NASDAQ:CIFR) Acquired by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 54,286 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Cipher Mining by 62.0% during the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after purchasing an additional 2,164,383 shares in the last quarter. Van ECK Associates Corp grew its stake in Cipher Mining by 0.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,755,829 shares of the company’s stock worth $11,437,000 after buying an additional 22,086 shares during the last quarter. First Financial Bankshares Inc acquired a new position in Cipher Mining during the fourth quarter worth approximately $9,901,000. Vident Advisory LLC lifted its stake in Cipher Mining by 94.9% in the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock valued at $11,537,000 after buying an additional 1,090,811 shares during the last quarter. Finally, Shariaportfolio Inc. purchased a new stake in Cipher Mining in the fourth quarter valued at approximately $2,460,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CIFR shares. Compass Point lifted their target price on shares of Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. HC Wainwright increased their target price on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price objective on shares of Cipher Mining in a research note on Tuesday, September 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $7.70.

Cipher Mining Trading Down 1.0 %

NASDAQ CIFR opened at $2.98 on Wednesday. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $923.89 million, a P/E ratio of 49.67 and a beta of 2.24. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $7.99. The firm has a 50-day moving average price of $4.29 and a 200 day moving average price of $4.21.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same period in the prior year, the business posted ($0.05) EPS. Equities research analysts expect that Cipher Mining Inc. will post -0.05 EPS for the current year.

Insiders Place Their Bets

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 443,830 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $4.33, for a total transaction of $1,921,783.90. Following the sale, the insider now directly owns 112,410,700 shares in the company, valued at approximately $486,738,331. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 8,108,357 shares of company stock worth $28,338,868. 2.25% of the stock is owned by corporate insiders.

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.