Dynamic Technology Lab Private Ltd Sells 40,351 Shares of Cipher Mining Inc. (NASDAQ:CIFR)

Dynamic Technology Lab Private Ltd trimmed its position in Cipher Mining Inc. (NASDAQ:CIFR) by 16.8% in the third quarter, Holdings Channel reports. The fund owned 200,535 shares of the company’s stock after selling 40,351 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Cipher Mining were worth $776,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in Cipher Mining by 8.8% in the third quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock valued at $101,000 after purchasing an additional 2,101 shares during the period. Vima LLC increased its holdings in Cipher Mining by 11.3% in the third quarter. Vima LLC now owns 24,656 shares of the company’s stock valued at $95,000 after purchasing an additional 2,504 shares during the period. Amalgamated Bank increased its holdings in Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after purchasing an additional 4,557 shares during the period. Strategic Blueprint LLC increased its holdings in Cipher Mining by 33.3% in the third quarter. Strategic Blueprint LLC now owns 20,000 shares of the company’s stock valued at $77,000 after purchasing an additional 5,000 shares during the period. Finally, Farther Finance Advisors LLC acquired a new stake in Cipher Mining in the third quarter valued at $33,000. 12.26% of the stock is currently owned by institutional investors.

Insider Activity at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $5,741,358.24. Following the transaction, the insider now owns 107,748,228 shares of the company’s stock, valued at approximately $325,399,648.56. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Arthur Kelly sold 89,742 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the completion of the transaction, the chief operating officer now directly owns 717,431 shares in the company, valued at approximately $3,135,173.47. The trade was a 11.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,296,839 shares of company stock valued at $25,974,602. 2.25% of the stock is owned by corporate insiders.

Cipher Mining Stock Performance

Shares of CIFR opened at $6.45 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. The stock has a 50-day moving average of $5.22 and a 200-day moving average of $4.59. The company has a market cap of $2.24 billion, a PE ratio of -49.62 and a beta of 2.18. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $7.99.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The firm had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, equities research analysts predict that Cipher Mining Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Northland Securities assumed coverage on Cipher Mining in a report on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 price objective for the company. BTIG Research increased their price target on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and set a $7.50 price target on shares of Cipher Mining in a report on Friday, November 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a report on Friday, November 1st. Finally, Stifel Canada upgraded Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.72.

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.