Y Intercept Hong Kong Ltd Purchases New Stake in Cipher Mining Inc. $CIFR

Y Intercept Hong Kong Ltd acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 43,229 shares of the company’s stock, valued at approximately $544,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in shares of 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 purchasing an additional 2,812 shares in the last quarter. Impact Partnership Wealth LLC lifted its stake in shares of Cipher Mining by 7.5% in the second quarter. Impact Partnership Wealth LLC now owns 51,128 shares of the company’s stock valued at $244,000 after purchasing an additional 3,573 shares during the period. Signal Advisors Wealth LLC lifted its stake in shares of Cipher Mining by 41.2% in the third quarter. Signal Advisors Wealth LLC now owns 14,122 shares of the company’s stock valued at $178,000 after purchasing an additional 4,122 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Cipher Mining by 27.8% during the second quarter. Ameritas Investment Partners Inc. now owns 27,079 shares of the company’s stock worth $129,000 after buying an additional 5,892 shares in the last quarter. Finally, Strs Ohio acquired a new position in Cipher Mining during the third quarter worth about $76,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Transactions at Cipher Mining

In other news, Director Wesley Hastie Williams sold 49,867 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares of the company’s stock, valued at $2,542,971.60. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cary M. Grossman sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total transaction of $475,000.00. Following the transaction, the director directly owned 200,530 shares in the company, valued at $3,810,070. The trade was a 11.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 271,023 shares of company stock worth $4,442,255 in the last ninety days. Company insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CIFR. Northland Securities set a $27.50 target price on shares of Cipher Mining in a report on Tuesday, November 4th. Rosenblatt Securities raised their price objective on Cipher Mining to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Needham & Company LLC lifted their price objective on Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Macquarie upped their target price on Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, JMP Securities set a $30.00 price target on Cipher Mining in a research note on Wednesday, November 19th. 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. Based on data from MarketBeat.com, Cipher Mining presently has an average rating of “Moderate Buy” and an average target price of $24.54.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $16.26 on Wednesday. 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 business’s fifty day moving average price is $17.25 and its two-hundred day moving average price is $14.04. The stock has a market cap of $6.42 billion, a PE ratio of -90.33 and a beta of 2.95. 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 data on Monday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.07. The business had revenue of $106.69 million for the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. On average, analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Cipher Mining Company Profile

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.