Central Asset Investments & Management Holdings HK Ltd Makes New $225,000 Investment in Cipher Mining Inc. (NASDAQ:CIFR)

Central Asset Investments & Management Holdings HK Ltd bought a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 54,286 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors have also modified their holdings of the stock. First Financial Bankshares Inc purchased a new stake in shares of Cipher Mining during the 4th quarter valued at approximately $9,901,000. Vanguard Group Inc. raised its position in Cipher Mining by 62.0% in the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after purchasing an additional 2,164,383 shares during the period. Vident Advisory LLC lifted its stake in shares of Cipher Mining by 94.9% in the 1st quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock valued at $11,537,000 after purchasing an additional 1,090,811 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Cipher Mining by 38.9% during the 1st quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after purchasing an additional 765,238 shares during the period. Finally, Shariaportfolio Inc. acquired a new stake in shares of Cipher Mining during the 4th quarter worth about $2,460,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Insider Transactions at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 443,830 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $4.33, for a total value of $1,921,783.90. Following the sale, the insider now owns 112,410,700 shares of the company’s stock, valued at $486,738,331. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 8,108,357 shares of company stock valued at $28,338,868. 2.25% of the stock is currently owned by corporate insiders.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $2.98 on Wednesday. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99. The company has a fifty day simple moving average of $4.29 and a two-hundred day simple moving average of $4.21. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. The company has a market cap of $923.89 million, a price-to-earnings ratio of 49.67 and a beta of 2.24.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $36.81 million during the quarter, compared to analysts’ expectations of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, equities analysts anticipate that Cipher Mining Inc. will post -0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CIFR. Needham & Company LLC upped their target price on shares of Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Compass Point boosted their target price on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Thursday, August 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and a consensus target price of $7.70.

Cipher Mining 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.