Vontobel Holding Ltd. Sells 83,273 Shares of Cipher Mining Inc. $CIFR

Vontobel Holding Ltd. decreased its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 87.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,548 shares of the company’s stock after selling 83,273 shares during the period. Vontobel Holding Ltd.’s holdings in Cipher Mining were worth $145,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its position in shares of Cipher Mining by 258.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after acquiring an additional 6,516 shares during the period. Custos Family Office LLC purchased a new stake in shares of Cipher Mining in the second quarter valued at approximately $48,000. Signal Advisors Wealth LLC bought a new position in Cipher Mining in the second quarter worth approximately $48,000. Maripau Wealth Management LLC bought a new position in Cipher Mining in the second quarter worth approximately $48,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Cipher Mining during the second quarter valued at $54,000. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Performance

CIFR stock opened at $14.76 on Thursday. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $25.52. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of -82.00 and a beta of 2.91. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a 50-day simple moving average of $17.73 and a two-hundred day simple moving average of $11.92.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data 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. The firm had revenue of $106.69 million for the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. On average, equities analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Northland Securities set a $27.50 price objective on shares of Cipher Mining in a research note on Tuesday, November 4th. Macquarie boosted their price target on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Arete Research started coverage on shares of Cipher Mining in a research note on Wednesday, September 24th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, HC Wainwright lifted their price objective on shares of Cipher Mining to $30.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.73.

Insiders Place Their Bets

In other news, Director Wesley Hastie Williams sold 49,867 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the transaction, the director directly owned 158,145 shares of the company’s stock, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cary M. Grossman sold 25,000 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total value of $475,000.00. Following the sale, the director owned 200,530 shares of the company’s stock, valued at approximately $3,810,070. This represents a 11.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 4,970,973 shares of company stock valued at $102,884,253. 2.63% of the stock is currently owned by company insiders.

About Cipher Mining

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.