Virtu Financial LLC Has $478,000 Holdings in Cipher Mining Inc. (NASDAQ:CIFR)

Virtu Financial LLC boosted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 21.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,437 shares of the company’s stock after acquiring an additional 21,566 shares during the quarter. Virtu Financial LLC’s holdings in Cipher Mining were worth $478,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in Cipher Mining by 8.8% during the 3rd quarter. Victory Capital Management Inc. now owns 25,996 shares of the company’s stock worth $101,000 after acquiring an additional 2,101 shares during the period. Vima LLC boosted its position in Cipher Mining by 11.3% during the 3rd quarter. Vima LLC now owns 24,656 shares of the company’s stock worth $95,000 after acquiring an additional 2,504 shares during the period. Verition Fund Management LLC boosted its position in Cipher Mining by 30.7% during the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company’s stock worth $51,000 after acquiring an additional 3,086 shares during the period. Amalgamated Bank boosted its position in Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after acquiring an additional 4,557 shares during the period. Finally, Strategic Blueprint LLC raised its stake in shares of Cipher Mining by 33.3% during the 3rd quarter. Strategic Blueprint LLC now owns 20,000 shares of the company’s stock worth $77,000 after purchasing an additional 5,000 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $6.13 on Monday. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99. The firm’s fifty day simple moving average is $5.84 and its 200 day simple moving average is $4.79. 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 firm has a market capitalization of $2.13 billion, a PE ratio of -47.15 and a beta of 2.29.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, sell-side analysts anticipate that Cipher Mining Inc. will post -0.18 EPS for the current year.

Insider Activity at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $6.60, for a total value of $1,980,000.00. Following the completion of the sale, the insider now directly owns 98,747,588 shares of the company’s stock, valued at $651,734,080.80. This represents a 0.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Arthur Kelly sold 53,161 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.16, for a total transaction of $380,632.76. Following the completion of the sale, the chief operating officer now directly owns 664,270 shares of the company’s stock, 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. In the last three months, insiders have sold 1,593,503 shares of company stock worth $9,568,005. 2.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CIFR. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target for the company in a research note on Tuesday, December 10th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 price target on shares of Cipher Mining in a research note on Thursday, October 3rd. BTIG Research raised their price target on Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $8.03.

Cipher Mining Company 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.