Main Management ETF Advisors LLC Purchases 8,976 Shares of Cipher Mining Inc. $CIFR

Main Management ETF Advisors LLC raised its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 551,844 shares of the company’s stock after buying an additional 8,976 shares during the quarter. Main Management ETF Advisors LLC owned about 0.14% of Cipher Mining worth $2,638,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Stoneridge Investment Partners LLC acquired a new stake in Cipher Mining in the first quarter valued at approximately $29,000. Signal Advisors Wealth LLC acquired a new position in shares of Cipher Mining during the second quarter worth $48,000. Custos Family Office LLC purchased a new stake in shares of Cipher Mining during the 2nd quarter valued at $48,000. Wellington Management Group LLP boosted its position in shares of Cipher Mining by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 27,990 shares of the company’s stock worth $64,000 after purchasing an additional 2,940 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Cipher Mining during the 2nd quarter worth $79,000. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Up 0.3%

CIFR stock opened at $14.62 on Thursday. 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 firm’s fifty day simple moving average is $16.51 and its 200-day simple moving average is $9.09. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $25.52. The company has a market capitalization of $5.78 billion, a P/E ratio of -81.22 and a beta of 2.91.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.07. The company had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. As a group, equities research analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CIFR. Arete Research began coverage on Cipher Mining in a report on Wednesday, September 24th. They issued a “buy” rating and a $24.00 price target for the company. Northland Securities set a $27.50 price target on shares of Cipher Mining in a report on Tuesday, November 4th. JMP Securities set a $30.00 price objective on shares of Cipher Mining in a research note on Wednesday. BTIG Research reissued a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded Cipher Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.73.

Insider Transactions at Cipher Mining

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.36, for a total value of $43,316,114.40. Following the sale, the insider owned 71,437,719 shares in the company, valued at approximately $882,970,206.84. This represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 20,758,308 shares of company stock valued at $280,420,794 over the last three months. Insiders own 2.63% of the company’s stock.

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.