Wellington Management Group LLP Purchases 2,940 Shares of Cipher Mining Inc. $CIFR

Wellington Management Group LLP grew its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 11.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,990 shares of the company’s stock after buying an additional 2,940 shares during the quarter. Wellington Management Group LLP’s holdings in Cipher Mining were worth $64,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. RR Advisors LLC bought a new stake in Cipher Mining during the first quarter worth about $619,000. American Century Companies Inc. grew its stake in Cipher Mining by 5.8% during the first quarter. American Century Companies Inc. now owns 481,571 shares of the company’s stock worth $1,108,000 after buying an additional 26,530 shares during the last quarter. HighTower Advisors LLC grew its stake in Cipher Mining by 309.4% during the first quarter. HighTower Advisors LLC now owns 73,810 shares of the company’s stock worth $170,000 after buying an additional 55,782 shares during the last quarter. Swiss National Bank grew its stake in shares of Cipher Mining by 4.2% during the first quarter. Swiss National Bank now owns 471,700 shares of the company’s stock valued at $1,085,000 after purchasing an additional 18,900 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Cipher Mining by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 42,701 shares of the company’s stock valued at $98,000 after purchasing an additional 4,287 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Insider Activity

In other Cipher Mining news, COO Patrick Arthur Kelly sold 44,871 shares of Cipher Mining stock in a transaction on Friday, August 15th. The shares were sold at an average price of $5.20, for a total transaction of $233,329.20. Following the completion of the sale, the chief operating officer owned 1,089,260 shares of the company’s stock, valued at approximately $5,664,152. The trade was a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of Cipher Mining stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $6.06, for a total transaction of $1,752,218.70. Following the sale, the insider directly owned 93,378,292 shares of the company’s stock, valued at $565,872,449.52. This represents a 0.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,466,662 shares of company stock worth $33,020,046. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

CIFR has been the topic of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. Jones Trading initiated coverage on shares of Cipher Mining in a research note on Monday, July 21st. They set a “hold” rating on the stock. Macquarie increased their price target on shares of Cipher Mining from $6.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. HC Wainwright reissued a “buy” rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group increased their price target on shares of Cipher Mining from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.67.

Cipher Mining Price Performance

CIFR opened at $8.32 on Wednesday. The company has a fifty day moving average price of $5.86 and a two-hundred day moving average price of $4.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $8.78. The firm has a market capitalization of $3.27 billion, a PE ratio of -19.35 and a beta of 2.76.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, hitting 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 analyst estimates of $51.89 million. As a group, analysts anticipate that Cipher Mining Inc. will post -0.31 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.