Chesapeake Capital Corp IL Sells 18,200 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Chesapeake Capital Corp IL cut its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 51.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,200 shares of the company’s stock after selling 18,200 shares during the period. Chesapeake Capital Corp IL’s holdings in Cipher Mining were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. First Financial Bankshares Inc bought a new position in Cipher Mining in the 4th quarter worth approximately $9,901,000. Vanguard Group Inc. lifted its stake in shares of Cipher Mining by 62.0% in the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after purchasing an additional 2,164,383 shares during the period. Van ECK Associates Corp boosted its position in shares of Cipher Mining by 38.9% in the 1st quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after purchasing an additional 765,238 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Cipher Mining by 30.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock worth $185,000 after purchasing an additional 10,998 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Cipher Mining by 27.0% in the first quarter. Swiss National Bank now owns 125,600 shares of the company’s stock valued at $647,000 after purchasing an additional 26,700 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 366,042 shares of Cipher Mining stock in a transaction on Friday, June 14th. The shares were sold at an average price of $5.00, for a total transaction of $1,830,210.00. Following the completion of the transaction, the insider now owns 114,430,167 shares of the company’s stock, valued at $572,150,835. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 8,850,719 shares of company stock worth $31,982,940. Company insiders own 2.25% of the company’s stock.

Cipher Mining Trading Up 5.4 %

Shares of NASDAQ:CIFR opened at $3.11 on Wednesday. The business has a 50 day moving average of $4.44 and a 200-day moving average of $4.21. The stock has a market cap of $964.19 million, a PE ratio of 51.83 and a beta of 2.25. Cipher Mining Inc. has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 target price on shares of Cipher Mining in a report on Tuesday, September 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a report on Thursday, August 29th. Compass Point boosted their target price on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, HC Wainwright raised their price target on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and a consensus target price of $7.42.

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.