Strategic Blueprint LLC Purchases 5,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Strategic Blueprint LLC grew its position in Cipher Mining Inc. (NASDAQ:CIFR) by 33.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Strategic Blueprint LLC’s holdings in Cipher Mining were worth $77,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after purchasing an additional 4,557 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Cipher Mining in the first quarter valued at about $52,000. Xponance Inc. acquired a new stake in shares of Cipher Mining in the second quarter valued at about $45,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Cipher Mining in the first quarter valued at about $59,000. Finally, Prospect Financial Services LLC acquired a new stake in shares of Cipher Mining in the third quarter valued at about $47,000. 12.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CIFR shares. Northland Capmk raised Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Stifel Canada raised Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $7.50 price target on shares of Cipher Mining in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of Cipher Mining in a research report on Thursday, October 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Friday. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining presently has an average rating of “Buy” and a consensus target price of $7.36.

Cipher Mining Trading Up 6.5 %

Shares of CIFR stock opened at $5.25 on Friday. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.76 billion, a P/E ratio of -40.38 and a beta of 2.18. The stock has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $4.27. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $36.81 million during the quarter, compared to analysts’ expectations of $39.17 million. Cipher Mining had a negative return on equity of 8.57% and a negative net margin of 33.39%. During the same period in the previous year, the company posted ($0.05) earnings per share. On average, research analysts predict that Cipher Mining Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 89,742 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54. Following the completion of the sale, the chief operating officer now directly owns 717,431 shares in the company, valued at $3,135,173.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $2.74, for a total value of $5,209,046.88. Following the sale, the insider now directly owns 103,946,004 shares in the company, valued at approximately $284,812,050.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the sale, the chief operating officer now directly owns 717,431 shares in the company, valued at $3,135,173.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,943,078 shares of company stock worth $23,609,769. Company insiders own 2.25% of the company’s stock.

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.