Exchange Traded Concepts LLC Sells 126,416 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Exchange Traded Concepts LLC reduced its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,323,907 shares of the company’s stock after selling 126,416 shares during the period. Exchange Traded Concepts LLC owned 0.43% of Cipher Mining worth $5,124,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Cipher Mining by 62.0% in the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after acquiring an additional 2,164,383 shares during the period. Van ECK Associates Corp raised its stake in Cipher Mining by 38.9% during the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after buying an additional 765,238 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Cipher Mining in the second quarter valued at $1,332,000. Swiss National Bank boosted its position in Cipher Mining by 27.0% during the first quarter. Swiss National Bank now owns 125,600 shares of the company’s stock valued at $647,000 after acquiring an additional 26,700 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Cipher Mining by 243.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after acquiring an additional 389,079 shares during the period. Institutional investors own 12.26% of the company’s stock.

Insider Activity

In related news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $6.23, for a total transaction of $3,798,082.12. Following the transaction, the insider now directly owns 109,911,187 shares in the company, valued at approximately $684,746,695.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider William Iwaschuk sold 150,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the completion of the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at $2,439,443.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $6.23, for a total transaction of $3,798,082.12. Following the completion of the transaction, the insider now directly owns 109,911,187 shares in the company, valued at $684,746,695.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,462,980 shares of company stock worth $20,795,679 over the last quarter. Insiders own 2.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Compass Point upped their target price on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Needham & Company LLC raised their price objective on shares of Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Northland Securities assumed coverage on shares of Cipher Mining in a research report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 target price on the stock. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $7.21.

Cipher Mining Stock Up 14.2 %

Shares of NASDAQ CIFR opened at $4.19 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.49 and a quick ratio of 8.49. The company has a 50-day moving average price of $3.61 and a 200-day moving average price of $4.18. The stock has a market capitalization of $1.30 billion, a P/E ratio of 69.83 and a beta of 2.25. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. The business had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. On average, equities research analysts forecast that Cipher Mining Inc. will post -0.04 EPS for the current fiscal year.

Cipher Mining Company 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.