Intech Investment Management LLC Has $742,000 Stock Position in Cipher Mining Inc. $CIFR

Intech Investment Management LLC reduced its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 33.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 155,203 shares of the company’s stock after selling 78,331 shares during the period. Intech Investment Management LLC’s holdings in Cipher Mining were worth $742,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Cipher Mining by 18.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company’s stock worth $34,621,000 after acquiring an additional 1,108,850 shares during the last quarter. Vident Advisory LLC lifted its position in shares of Cipher Mining by 11.9% during the 1st quarter. Vident Advisory LLC now owns 4,753,772 shares of the company’s stock worth $10,934,000 after purchasing an additional 503,694 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Cipher Mining by 52.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after purchasing an additional 1,610,073 shares during the period. Helix Partners Management LP boosted its stake in Cipher Mining by 95.8% during the 1st quarter. Helix Partners Management LP now owns 4,400,000 shares of the company’s stock valued at $10,120,000 after purchasing an additional 2,153,058 shares during the period. Finally, Millennium Management LLC acquired a new stake in Cipher Mining in the 1st quarter valued at approximately $9,316,000. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 9.3%

Shares of Cipher Mining stock opened at $19.15 on Thursday. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $25.52. The firm has a market capitalization of $7.57 billion, a PE ratio of -106.39 and a beta of 2.91. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The company’s fifty day moving average price is $17.04 and its two-hundred day moving average price is $9.56.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The company had revenue of $106.69 million during the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. On average, analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Arete assumed coverage on Cipher Mining in a report on Wednesday, September 24th. They set a “buy” rating and a $24.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $27.00 target price (up previously from $16.00) on shares of Cipher Mining in a research report on Tuesday, November 4th. Compass Point started coverage on shares of Cipher Mining in a report on Monday, September 15th. They issued a “buy” rating for the company. BTIG Research restated a “buy” rating and issued a $25.00 price target on shares of Cipher Mining in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company set a $18.00 price objective on shares of Cipher Mining in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cipher Mining has a consensus rating of “Moderate Buy” and a consensus target price of $24.68.

Insider Buying and Selling

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of Cipher Mining stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the sale, the insider directly owned 71,437,719 shares of the company’s stock, valued at approximately $882,970,206.84. The trade was a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 20,758,308 shares of company stock worth $280,420,794 in the last three months. 2.63% of the stock is owned by company insiders.

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.