WINTON GROUP Ltd Purchases New Position in Cipher Mining Inc. $CIFR

WINTON GROUP Ltd purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the second quarter, HoldingsChannel reports. The fund purchased 86,264 shares of the company’s stock, valued at approximately $2,113,000.

Several other institutional investors and hedge funds have also bought and sold shares of CIFR. Bank of America Corp DE raised its position in shares of Cipher Mining by 237.7% in the 1st quarter. Bank of America Corp DE now owns 1,414,667 shares of the company’s stock worth $18,207,000 after acquiring an additional 995,735 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Cipher Mining by 16.6% during the fourth quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock valued at $9,915,000 after purchasing an additional 95,686 shares in the last quarter. Moore Capital Management LP bought a new stake in shares of Cipher Mining during the second quarter valued at approximately $35,077,000. Foundations Investment Advisors LLC purchased a new stake in Cipher Mining in the fourth quarter worth $667,000. Finally, Wellington Management Group LLP grew its stake in Cipher Mining by 567.1% in the second quarter. Wellington Management Group LLP now owns 3,985,806 shares of the company’s stock worth $97,652,000 after purchasing an additional 3,388,359 shares during the period. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cipher Mining

In related news, Director Cary M. Grossman sold 15,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following the sale, the director directly owned 143,829 shares of the company’s stock, valued at approximately $4,232,887.47. This represents a 9.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Newsome sold 3,758 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total transaction of $99,962.80. Following the sale, the director owned 128,530 shares of the company’s stock, valued at approximately $3,418,898. This represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 131,258 shares of company stock valued at $2,925,288 in the last quarter. 3.09% of the stock is owned by insiders.

Cipher Mining Stock Up 5.7%

Shares of NASDAQ:CIFR opened at $16.85 on Friday. The stock has a fifty day simple moving average of $18.80 and a two-hundred day simple moving average of $19.15. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -5.89 and a beta of 3.15. Cipher Mining Inc. has a 12-month low of $9.85 and a 12-month high of $30.14. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 9.69.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 4th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.40). Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%.The company had revenue of $24.84 million during the quarter, compared to the consensus estimate of $31.86 million. During the same period last year, the firm posted ($0.12) earnings per share. On average, research analysts anticipate that Cipher Mining Inc. will post -1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on CIFR. Sanford C. Bernstein assumed coverage on Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Cipher Mining from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of Cipher Mining in a research note on Monday, August 10th. Keefe, Bruyette & Woods lowered their price target on shares of Cipher Mining from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, UBS Group set a $30.00 price objective on shares of Cipher Mining in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.61.

About Cipher Mining

Cipher Mining Inc is a United States-based bitcoin mining company that develops and operates data centers designed for large-scale cryptocurrency mining. Its operations use specialized computing equipment to process transactions on the Bitcoin network and earn bitcoin rewards, while the company also focuses on securing access to power and expanding its digital infrastructure.

The company has developed mining facilities in the United States, including sites in Texas, and has pursued additional infrastructure intended to support future growth.