Wealth Enhancement Advisory Services LLC Has $396,000 Stock Position in Cipher Mining Inc. $CIFR

Wealth Enhancement Advisory Services LLC reduced its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,767 shares of the company’s stock after selling 9,072 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cipher Mining were worth $396,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Baader Bank Aktiengesellschaft acquired a new stake in shares of Cipher Mining in the second quarter worth $94,000. Signal Advisors Wealth LLC bought a new stake in Cipher Mining in the 2nd quarter valued at $48,000. DLK Investment Management LLC grew its position in Cipher Mining by 18.4% in the 2nd quarter. DLK Investment Management LLC now owns 19,300 shares of the company’s stock worth $92,000 after purchasing an additional 3,000 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Cipher Mining by 2.3% during the 1st quarter. Rhumbline Advisers now owns 276,376 shares of the company’s stock worth $636,000 after purchasing an additional 6,270 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Cipher Mining by 52.4% during the 1st 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 during the period. 12.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 44,870 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $10.80, for a total value of $484,596.00. Following the transaction, the chief operating officer owned 1,044,390 shares in the company, valued at $11,279,412. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holding Ltd V3 sold 2,000,000 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $12.08, for a total value of $24,160,000.00. Following the sale, the insider directly owned 67,852,537 shares of the company’s stock, valued at $819,658,646.96. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,301,254 shares of company stock valued at $206,922,720 over the last three months. Insiders own 2.89% of the company’s stock.

Cipher Mining Price Performance

Shares of CIFR stock opened at $15.34 on Tuesday. The stock’s fifty day moving average is $8.60 and its 200-day moving average is $5.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18. The stock has a market capitalization of $6.03 billion, a PE ratio of -35.67 and a beta of 2.87. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $16.12.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CIFR. Jones Trading assumed coverage on Cipher Mining in a research report on Monday, July 21st. They set a “hold” rating on the stock. Northland Securities set a $14.50 price objective on Cipher Mining in a research report on Monday, September 29th. Canaccord Genuity Group upped their target price on Cipher Mining from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Compass Point assumed coverage on Cipher Mining in a research report on Monday, September 15th. They issued a “buy” rating for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Cipher Mining in a report on Saturday, September 27th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.23.

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.