Cipher Mining Inc. $CIFR Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its position in Cipher Mining Inc. (NASDAQ:CIFR) by 33.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,446 shares of the company’s stock after acquiring an additional 74,744 shares during the period. Legal & General Group Plc owned approximately 0.08% of Cipher Mining worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Cipher Mining by 996.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock worth $10,645,000 after buying an additional 2,023,994 shares during the period. Helix Partners Management LP boosted its holdings in shares of Cipher Mining by 95.8% in the 1st quarter. Helix Partners Management LP now owns 4,400,000 shares of the company’s stock valued at $10,120,000 after acquiring an additional 2,153,058 shares during the last quarter. Greenleaf Trust acquired a new stake in shares of Cipher Mining in the second quarter worth $108,000. SRN Advisors LLC increased its stake in shares of Cipher Mining by 42.1% in the first quarter. SRN Advisors LLC now owns 284,148 shares of the company’s stock worth $654,000 after acquiring an additional 84,148 shares during the period. Finally, Anthracite Investment Company Inc. purchased a new position in shares of Cipher Mining during the second quarter worth $163,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the transaction, the insider directly owned 71,437,719 shares of the company’s stock, valued at $882,970,206.84. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 17,398,308 shares of company stock worth $253,080,894 in the last ninety days. Corporate insiders own 2.63% of the company’s stock.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $19.56 on Wednesday. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of -108.67 and a beta of 2.91. The stock has a 50-day moving average of $18.22 and a 200 day moving average of $10.60. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JMP Securities set a $30.00 price target on shares of Cipher Mining in a report on Wednesday, November 19th. Compass Point initiated coverage on Cipher Mining in a research note on Monday, September 15th. They issued a “buy” rating on the stock. Northland Securities set a $27.50 target price on Cipher Mining in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $12.00 to $18.00 in a report on Monday, November 24th. Finally, Needham & Company LLC raised their price objective on shares of Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.73.

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.