Voya Investment Management LLC Purchases 327,912 Shares of Cipher Mining Inc. $CIFR

Voya Investment Management LLC boosted its position in Cipher Mining Inc. (NASDAQ:CIFR) by 454.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 400,090 shares of the company’s stock after purchasing an additional 327,912 shares during the period. Voya Investment Management LLC’s holdings in Cipher Mining were worth $5,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC bought a new position in shares of Cipher Mining during the 1st quarter worth $9,316,000. Alyeska Investment Group L.P. bought a new stake in Cipher Mining in the 1st quarter valued at about $7,094,000. JPMorgan Chase & Co. lifted its holdings in Cipher Mining by 996.9% during the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock valued at $10,645,000 after purchasing an additional 2,023,994 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after purchasing an additional 1,610,073 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Cipher Mining by 28.3% in the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after purchasing an additional 1,541,138 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Up 1.9%

Shares of NASDAQ:CIFR opened at $16.21 on Friday. The firm has a fifty day moving average price of $17.99 and a two-hundred day moving average price of $11.56. The company has a market cap of $6.40 billion, a price-to-earnings ratio of -90.03 and a beta of 2.91. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $25.52.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. The firm had revenue of $106.69 million for the quarter, compared to analysts’ expectations of $79.13 million. Analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CIFR has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Cipher Mining in a research note on Monday, December 15th. Wall Street Zen raised shares of Cipher Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price target on shares of Cipher Mining in a report on Wednesday, November 5th. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $12.00 to $18.00 in a research report on Monday, November 24th. Finally, Citigroup started coverage on Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating on the stock. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.73.

Insiders Place Their Bets

In other Cipher Mining news, insider William Iwaschuk sold 173,094 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $22.52, for a total value of $3,898,076.88. Following the sale, the insider owned 1,054,488 shares of the company’s stock, valued at $23,747,069.76. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $16.08, for a total value of $801,861.36. Following the sale, the director owned 158,145 shares of the company’s stock, valued at approximately $2,542,971.60. This trade represents a 23.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,970,973 shares of company stock valued at $127,044,253 over the last 90 days. 2.63% of the stock is owned by insiders.

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.