Centaurus Financial Inc. Makes New $583,000 Investment in Cipher Mining Inc. (NASDAQ:CIFR)

Centaurus Financial Inc. bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 150,694 shares of the company’s stock, valued at approximately $583,000.

A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Cipher Mining by 71.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock worth $9,118,000 after purchasing an additional 977,963 shares during the last quarter. Intech Investment Management LLC bought a new position in Cipher Mining during the 3rd quarter worth approximately $133,000. Drive Wealth Management LLC acquired a new position in shares of Cipher Mining in the 3rd quarter worth approximately $370,000. Victory Capital Management Inc. increased its holdings in shares of Cipher Mining by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock valued at $101,000 after acquiring an additional 2,101 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC bought a new stake in shares of Cipher Mining in the 3rd quarter valued at approximately $132,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CIFR. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. BTIG Research boosted their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 15th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Macquarie upped their target price on Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $7.72.

Insider Activity at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $2.74, for a total transaction of $5,209,046.88. Following the completion of the transaction, the insider now directly owns 103,946,004 shares of the company’s stock, valued at approximately $284,812,050.96. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Arthur Kelly sold 53,161 shares of Cipher Mining stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.16, for a total value of $380,632.76. Following the transaction, the chief operating officer now owns 664,270 shares in the company, valued at approximately $4,756,173.20. This trade represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,296,839 shares of company stock worth $25,974,602 over the last ninety days. 2.25% of the stock is currently owned by corporate insiders.

Cipher Mining Stock Performance

CIFR opened at $5.63 on Wednesday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $5.08 and its 200-day moving average is $4.56. The stock has a market cap of $1.96 billion, a PE ratio of -43.30 and a beta of 2.18. Cipher Mining Inc. has a twelve month low of $2.15 and a twelve month high of $7.99.

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

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.