Hennion & Walsh Asset Management Inc. Acquires 37,162 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Hennion & Walsh Asset Management Inc. grew its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 25.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,897 shares of the company’s stock after acquiring an additional 37,162 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.05% of Cipher Mining worth $849,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CIFR. Amalgamated Bank increased its stake in Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Cipher Mining in the 3rd quarter valued at approximately $33,000. Xponance Inc. acquired a new position in Cipher Mining during the 2nd quarter worth approximately $45,000. FNY Investment Advisers LLC bought a new position in shares of Cipher Mining during the 4th quarter worth approximately $51,000. Finally, W Advisors LLC bought a new stake in shares of Cipher Mining in the third quarter worth $45,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Trading Up 4.4 %

Shares of Cipher Mining stock opened at $5.43 on Monday. The business has a fifty day simple moving average of $5.98 and a two-hundred day simple moving average of $4.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -41.77 and a beta of 2.38. 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 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 last year, the business earned ($0.07) earnings per share. Research analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current year.

Insider Activity

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of Cipher Mining stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.22, for a total value of $6,220,000.00. Following the completion of the transaction, the insider now directly owns 99,047,588 shares of the company’s stock, valued at $616,075,997.36. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Arthur Kelly sold 53,161 shares of the company’s stock in a transaction dated 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 directly owns 664,270 shares of the company’s stock, valued at $4,756,173.20. This represents a 7.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,356,881 shares of company stock valued at $8,608,389. 2.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CIFR. Northland Securities lifted their price target on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.50 target price on shares of Cipher Mining in a research report on Friday, November 1st. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Friday, November 1st. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. Ten investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock 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.