Valeo Financial Advisors LLC Purchases Shares of 16,000 Cipher Mining Inc. (NASDAQ:CIFR)

Valeo Financial Advisors LLC purchased a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 16,000 shares of the company’s stock, valued at approximately $37,000.

A number of other large investors have also made changes to their positions in the company. V3 Holding Ltd bought a new stake in shares of Cipher Mining during the 4th quarter valued at about $452,713,000. Vanguard Group Inc. grew its stake in shares of Cipher Mining by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock valued at $84,318,000 after acquiring an additional 1,189,756 shares during the period. Invesco Ltd. grew its stake in shares of Cipher Mining by 16.7% during the 4th quarter. Invesco Ltd. now owns 6,443,723 shares of the company’s stock valued at $29,899,000 after acquiring an additional 924,262 shares during the period. Geode Capital Management LLC grew its stake in shares of Cipher Mining by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company’s stock valued at $26,583,000 after acquiring an additional 218,137 shares during the period. Finally, Vident Advisory LLC grew its stake in shares of Cipher Mining by 29.4% during the 4th quarter. Vident Advisory LLC now owns 4,250,078 shares of the company’s stock valued at $19,720,000 after acquiring an additional 965,648 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CIFR has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a research note on Thursday, May 8th. Cantor Fitzgerald boosted their price objective on Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Thursday, June 5th. HC Wainwright reiterated a “buy” rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining presently has an average rating of “Buy” and an average target price of $7.63.

Insider Activity

In other news, major shareholder Top Holdco B.V. Bitfury sold 600,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $6.08, for a total transaction of $3,648,000.00. Following the sale, the insider directly owned 95,967,437 shares of the company’s stock, valued at $583,482,016.96. This represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.89% of the stock is owned by company insiders.

Cipher Mining Stock Down 5.9%

NASDAQ CIFR opened at $5.87 on Friday. The stock’s 50 day moving average is $4.02 and its 200 day moving average is $4.05. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.99. The stock has a market cap of $1.97 billion, a PE ratio of -16.31 and a beta of 2.72.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. The company had revenue of $48.96 million for the quarter, compared to analysts’ expectations of $53.57 million. Research analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

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.