Millennium Management LLC Purchases 2,938,184 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Millennium Management LLC boosted its position in Cipher Mining Inc. (NASDAQ:CIFR) by 122.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,330,887 shares of the company’s stock after purchasing an additional 2,938,184 shares during the quarter. Millennium Management LLC’s holdings in Cipher Mining were worth $22,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CIFR. First Financial Bankshares Inc bought a new position in shares of Cipher Mining in the fourth quarter worth $9,901,000. Shariaportfolio Inc. bought a new position in Cipher Mining in the 4th quarter worth about $2,460,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Cipher Mining in the 4th quarter valued at about $747,000. Virtu Financial LLC bought a new stake in shares of Cipher Mining during the 4th quarter valued at about $202,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Cipher Mining by 50.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 5,000 shares in the last quarter. 12.26% of the stock is owned by institutional investors.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $4.10 on Friday. 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 cap of $1.27 billion, a PE ratio of 68.33 and a beta of 2.25. The company’s fifty day moving average is $3.72 and its 200 day moving average is $4.22. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) 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 firm had revenue of $36.81 million for the quarter, compared to the consensus estimate of $39.17 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Research analysts anticipate that Cipher Mining Inc. will post -0.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 109,911,187 shares of the company’s stock, valued at approximately $684,746,695.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cipher Mining 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 value of $3,798,082.12. Following the transaction, the insider now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Iwaschuk sold 150,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,462,980 shares of company stock valued at $20,795,679 in the last ninety days. Company insiders own 2.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CIFR shares. Northland Securities started coverage on shares of Cipher Mining in a research note on Wednesday, September 25th. They issued 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 research report on Wednesday, September 25th. Macquarie started coverage on shares of Cipher Mining in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $6.00 target price for the company. Stifel Canada raised Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of Cipher Mining in a research note on Thursday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $7.21.

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.