150,000 Shares in Cipher Mining Inc. $CIFR Purchased by Tiptree Advisors LLC

Tiptree Advisors LLC purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 150,000 shares of the company’s stock, valued at approximately $717,000. Cipher Mining comprises about 0.6% of Tiptree Advisors LLC’s investment portfolio, making the stock its 20th largest position.

Several other hedge funds have also recently modified their holdings of CIFR. Cambridge Investment Research Advisors Inc. raised its position in shares of Cipher Mining by 27.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 79,369 shares of the company’s stock worth $183,000 after purchasing an additional 17,319 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Cipher Mining by 76.8% in the 1st quarter. Vontobel Holding Ltd. now owns 147,872 shares of the company’s stock valued at $340,000 after acquiring an additional 64,240 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Cipher Mining in the 1st quarter valued at about $82,000. Bank of New York Mellon Corp raised its holdings in Cipher Mining by 6.9% in the 1st quarter. Bank of New York Mellon Corp now owns 637,760 shares of the company’s stock valued at $1,467,000 after acquiring an additional 41,253 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in Cipher Mining in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Price Performance

Shares of CIFR opened at $18.08 on Wednesday. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $22.00. The firm’s fifty day simple moving average is $11.60 and its 200-day simple moving average is $6.70. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -42.05 and a beta of 2.87. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The business had revenue of $43.57 million for the quarter, compared to analyst estimates of $51.89 million. Equities analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CIFR shares. JPMorgan Chase & Co. increased their price target on shares of Cipher Mining from $6.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. BTIG Research increased their price objective on shares of Cipher Mining from $9.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Canaccord Genuity Group increased their price objective on shares of Cipher Mining from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Needham & Company LLC increased their price objective on shares of Cipher Mining from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Finally, Compass Point started coverage on shares of Cipher Mining in a research report on Monday, September 15th. They set a “buy” rating for the company. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.68.

Insider Buying and Selling at Cipher Mining

In related news, major shareholder Holding Ltd V3 sold 535,843 shares of Cipher Mining stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $20.32, for a total transaction of $10,888,329.76. Following the sale, the insider directly owned 61,316,694 shares in the company, valued at $1,245,955,222.08. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Patrick Arthur Kelly sold 26,581 shares of Cipher Mining stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $21.08, for a total transaction of $560,327.48. Following the sale, the chief operating officer owned 1,213,919 shares in the company, valued at $25,589,412.52. This represents a 2.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,085,388 shares of company stock worth $284,827,231 over the last quarter. 2.63% of the stock is owned by company insiders.

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.