ProShare Advisors LLC Has $260,000 Position in Cipher Mining Inc. $CIFR

ProShare Advisors LLC lifted its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 24.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,387 shares of the company’s stock after purchasing an additional 10,543 shares during the quarter. ProShare Advisors LLC’s holdings in Cipher Mining were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CIFR. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Cipher Mining by 42.9% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,005 shares of the company’s stock worth $292,000 after buying an additional 18,304 shares during the last quarter. Harvest Portfolios Group Inc. lifted its stake in shares of Cipher Mining by 141.5% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 162,426 shares of the company’s stock valued at $776,000 after acquiring an additional 95,170 shares during the last quarter. Impact Partnership Wealth LLC boosted its holdings in shares of Cipher Mining by 7.5% during the 2nd quarter. Impact Partnership Wealth LLC now owns 51,128 shares of the company’s stock valued at $244,000 after acquiring an additional 3,573 shares in the last quarter. Teacher Retirement System of Texas grew its position in Cipher Mining by 7.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 38,281 shares of the company’s stock worth $183,000 after acquiring an additional 2,812 shares during the last quarter. Finally, Anthracite Investment Company Inc. acquired a new position in Cipher Mining in the 2nd quarter worth about $163,000. Institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CIFR. Arete started coverage on Cipher Mining in a research report on Wednesday, September 24th. They issued a “buy” rating and a $24.00 target price for the company. Northland Securities set a $27.50 price objective on shares of Cipher Mining in a report on Tuesday, November 4th. HC Wainwright lifted their target price on shares of Cipher Mining to $30.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Needham & Company LLC upped their price target on shares of Cipher Mining from $15.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $27.00 price target (up previously from $16.00) on shares of Cipher Mining in a research note on Tuesday, November 4th. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.73.

Insider Buying and Selling at Cipher Mining

In related news, insider William Iwaschuk sold 173,094 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $22.52, for a total transaction of $3,898,076.88. Following the sale, the insider owned 1,054,488 shares in the company, valued at $23,747,069.76. This represents a 14.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holding Ltd V3 sold 535,843 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $20.32, for a total value of $10,888,329.76. Following the sale, the insider directly owned 61,316,694 shares of the company’s stock, valued at $1,245,955,222.08. This represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 20,758,308 shares of company stock valued at $280,420,794. 2.63% of the stock is owned by corporate insiders.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $14.15 on Friday. The stock has a market capitalization of $5.59 billion, a PE ratio of -78.61 and a beta of 2.91. The business’s 50 day simple moving average is $16.67 and its 200 day simple moving average is $9.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $25.52.

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