Cipher Mining Inc. $CIFR Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,466 shares of the company’s stock after selling 4,669 shares during the period. Voya Investment Management LLC’s holdings in Cipher Mining were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CIFR. Millennium Management LLC purchased a new position in Cipher Mining in the first quarter worth approximately $9,316,000. Alyeska Investment Group L.P. acquired a new position in Cipher Mining during the first quarter worth $7,094,000. Helix Partners Management LP lifted its stake in Cipher Mining by 95.8% during the first quarter. Helix Partners Management LP now owns 4,400,000 shares of the company’s stock worth $10,120,000 after purchasing an additional 2,153,058 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake 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 in the last quarter. Finally, Vident Advisory LLC lifted its stake in Cipher Mining by 11.9% during the first quarter. Vident Advisory LLC now owns 4,753,772 shares of the company’s stock worth $10,934,000 after purchasing an additional 503,694 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Stock Down 0.5%

Cipher Mining stock opened at $12.59 on Wednesday. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $15.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. The stock has a market cap of $4.95 billion, a PE ratio of -29.28 and a beta of 2.76. The stock’s fifty day moving average is $7.99 and its two-hundred day moving average is $5.16.

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, hitting the consensus estimate of ($0.12). The company had revenue of $43.57 million for the quarter, compared to analyst estimates of $51.89 million. Cipher Mining had a negative return on equity of 21.71% and a negative net margin of 96.95%. On average, sell-side analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the firm’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the transaction, the insider owned 71,437,719 shares of the company’s stock, valued at approximately $882,970,206.84. This trade represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 20,901,254 shares of company stock worth $210,570,720 over the last 90 days. Company insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

CIFR has been the topic of a number of research reports. Macquarie upped their price target on Cipher Mining from $8.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday. HC Wainwright upped their price target on Cipher Mining from $7.50 to $17.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald upped their price target on Cipher Mining from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Northland Securities set a $14.50 price target on Cipher Mining in a research note on Monday. Finally, Jones Trading started coverage on Cipher Mining in a research note on Monday, July 21st. They issued a “hold” rating on the stock. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.23.

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.