AM Investment Strategies LLC Has $719,000 Stake in Cipher Mining Inc. (NASDAQ:CIFR)

AM Investment Strategies LLC lowered its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 3.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 155,000 shares of the company’s stock after selling 6,230 shares during the quarter. AM Investment Strategies LLC’s holdings in Cipher Mining were worth $719,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Amalgamated Bank raised its holdings in Cipher Mining by 321.8% in the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after acquiring an additional 4,557 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock worth $28,000 after purchasing an additional 5,432 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of Cipher Mining during the 3rd quarter worth about $33,000. Xponance Inc. bought a new stake in Cipher Mining during the 2nd quarter valued at approximately $45,000. Finally, W Advisors LLC acquired a new stake in Cipher Mining in the 3rd quarter valued at approximately $45,000. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Up 6.7 %

Shares of CIFR opened at $5.90 on Friday. The stock has a 50 day simple moving average of $5.84 and a 200-day simple moving average of $5.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.18). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The company had revenue of $24.10 million for the quarter, compared to analyst estimates of $25.84 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. As a group, equities research analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Cipher Mining

In other news, COO Patrick Arthur Kelly sold 53,161 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $7.16, for a total transaction of $380,632.76. Following the sale, the chief operating officer now owns 664,270 shares in the company, valued at approximately $4,756,173.20. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the sale, the insider now directly owns 98,747,588 shares in the company, valued at approximately $651,734,080.80. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,356,881 shares of company stock worth $8,608,389 over the last ninety days. Corporate insiders own 2.25% of the company’s stock.

Wall Street Analysts Forecast Growth

CIFR has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a report on Friday, November 1st. Northland Securities boosted their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating for the company. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price objective on shares of Cipher Mining in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cipher Mining currently has an average rating of “Buy” and an average target price of $8.25.

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.