90,400 Shares of Cipher Mining Inc. $CIFR Acquired by Royal Fund Management LLC

Royal Fund Management LLC acquired a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 90,400 shares of the company’s stock, valued at approximately $1,431,000.

A number of other large investors have also added to or reduced their stakes in CIFR. Janus Henderson Group PLC increased its position in shares of Cipher Mining by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 4,373,982 shares of the company’s stock valued at $56,292,000 after purchasing an additional 81,192 shares during the last quarter. Wellington Management Group LLP grew its holdings in Cipher Mining by 567.1% during the second quarter. Wellington Management Group LLP now owns 3,985,806 shares of the company’s stock valued at $97,652,000 after purchasing an additional 3,388,359 shares during the period. Jennison Associates LLC increased its position in Cipher Mining by 48.7% in the first quarter. Jennison Associates LLC now owns 2,519,281 shares of the company’s stock worth $32,423,000 after buying an additional 824,618 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Cipher Mining in the first quarter worth about $24,486,000. Finally, Moore Capital Management LP purchased a new position in shares of Cipher Mining during the 2nd quarter valued at about $35,077,000. Institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

CIFR has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Cipher Mining from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. cut their target price on shares of Cipher Mining from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. HC Wainwright reissued a “buy” rating on shares of Cipher Mining in a report on Friday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research note on Monday, September 21st. Finally, Rothschild & Co Redburn started coverage on shares of Cipher Mining in a report on Monday, September 21st. They issued a “neutral” rating and a $18.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.65.

Cipher Mining Trading Down 4.6%

Shares of CIFR stock traded down $0.38 on Friday, reaching $7.94. 30,415,996 shares of the company’s stock were exchanged, compared to its average volume of 45,396,772. The company’s fifty day simple moving average is $15.07 and its 200 day simple moving average is $19.06. The stock has a market capitalization of $3.30 billion, a PE ratio of -2.78 and a beta of 3.20. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 9.69. Cipher Mining Inc. has a 52 week low of $7.90 and a 52 week high of $30.14.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 4th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.40). Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%. The business had revenue of $24.84 million for the quarter, compared to the consensus estimate of $31.86 million. During the same quarter last year, the business posted ($0.12) earnings per share. As a group, analysts forecast that Cipher Mining Inc. will post -1.36 EPS for the current year.

About Cipher Mining

Cipher Mining Inc (NASDAQ: CIFR) is a bitcoin mining company that develops and operates large-scale data center infrastructure in the United States. The company uses specialized application-specific integrated circuit (ASIC) computers to validate transactions on the Bitcoin network and earn bitcoin rewards.

Cipher focuses on securing access to cost-effective power, building and managing mining facilities, and deploying high-performance computing equipment. Its operations are supported by power infrastructure, cooling systems, networking equipment and other data center technologies required for energy-intensive digital asset mining.

The company was formed through the combination of Cipher Mining Technologies Inc and Good Works Acquisition Corp.