Vima LLC Acquires 2,504 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Vima LLC raised its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,656 shares of the company’s stock after acquiring an additional 2,504 shares during the quarter. Vima LLC’s holdings in Cipher Mining were worth $95,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Cipher Mining by 62.0% in the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after purchasing an additional 2,164,383 shares during the period. Millennium Management LLC raised its holdings in Cipher Mining by 122.8% in the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after purchasing an additional 2,938,184 shares during the period. Van ECK Associates Corp raised its holdings in Cipher Mining by 0.8% in the second quarter. Van ECK Associates Corp now owns 2,755,829 shares of the company’s stock worth $11,437,000 after purchasing an additional 22,086 shares during the period. Vident Advisory LLC raised its holdings in Cipher Mining by 94.9% in the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after purchasing an additional 1,090,811 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Cipher Mining by 243.2% in the second quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after purchasing an additional 389,079 shares during the period. 12.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 89,742 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cipher Mining news, insider William Iwaschuk sold 150,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total value of $591,000.00. Following the completion of the transaction, the insider now owns 619,148 shares in the company, valued at $2,439,443.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Arthur Kelly sold 89,742 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total value of $392,172.54. Following the transaction, the chief operating officer now owns 717,431 shares of the company’s stock, valued at $3,135,173.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,943,078 shares of company stock worth $17,389,769 over the last 90 days. Insiders own 2.25% of the company’s stock.

Cipher Mining Stock Performance

Cipher Mining stock traded up $0.24 during mid-day trading on Monday, hitting $5.70. 4,009,810 shares of the company’s stock traded hands, compared to its average volume of 9,056,970. The firm has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $4.22. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $7.99. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 96.67 and a beta of 2.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.49 and a quick ratio of 8.49.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same quarter last year, the firm earned ($0.05) earnings per share. On average, research analysts expect that Cipher Mining Inc. will post -0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on CIFR shares. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research note on Thursday, August 29th. Compass Point upped their price target on Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Macquarie assumed coverage on Cipher Mining in a research report on Tuesday, September 24th. They set an “outperform” rating and a $6.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a report on Thursday, October 3rd. Finally, Northland Capmk raised Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cipher Mining currently has a consensus rating of “Buy” and an average price target of $7.21.

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.