Charles Schwab Investment Management Inc. Increases Holdings in Cipher Mining Inc. $CIFR

Charles Schwab Investment Management Inc. grew its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,319,563 shares of the company’s stock after acquiring an additional 180,010 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.89% of Cipher Mining worth $7,635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CIFR. Voya Investment Management LLC boosted its stake in Cipher Mining by 3.6% in the 4th quarter. Voya Investment Management LLC now owns 59,135 shares of the company’s stock worth $274,000 after purchasing an additional 2,036 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Cipher Mining by 26.6% in the fourth quarter. Mackenzie Financial Corp now owns 13,095 shares of the company’s stock worth $61,000 after buying an additional 2,754 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Cipher Mining by 13.0% in the first quarter. SBI Securities Co. Ltd. now owns 29,948 shares of the company’s stock worth $69,000 after buying an additional 3,455 shares in the last quarter. Duncan Williams Asset Management LLC grew its holdings in shares of Cipher Mining by 3.2% during the first quarter. Duncan Williams Asset Management LLC now owns 141,434 shares of the company’s stock valued at $325,000 after buying an additional 4,434 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Cipher Mining by 0.3% during the first quarter. Exchange Traded Concepts LLC now owns 1,476,421 shares of the company’s stock valued at $3,396,000 after acquiring an additional 4,599 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Up 7.2%

Shares of CIFR stock opened at $7.12 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.77. The stock has a market cap of $2.80 billion, a P/E ratio of -16.56 and a beta of 2.73. The company has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $4.16.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The firm had revenue of $43.57 million during the quarter, compared to the consensus estimate of $51.89 million. On average, research analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CIFR. HC Wainwright reaffirmed a “buy” rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Canaccord Genuity Group boosted their price target on Cipher Mining from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Cantor Fitzgerald upped their price target on Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. Macquarie boosted their target price on Cipher Mining from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.67.

Insiders Place Their Bets

In related news, COO Patrick Arthur Kelly sold 44,871 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $5.20, for a total transaction of $233,329.20. Following the completion of the transaction, the chief operating officer directly owned 1,089,260 shares in the company, valued at approximately $5,664,152. The trade was a 3.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Newsome sold 32,468 shares of Cipher Mining stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.16, for a total transaction of $200,002.88. Following the transaction, the director directly owned 194,313 shares in the company, valued at $1,196,968.08. This represents a 14.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,466,662 shares of company stock valued at $33,020,046. 2.89% of the stock is currently owned by corporate insiders.

About Cipher Mining

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.