Creative Planning Purchases 36,251 Shares of Cipher Mining Inc. $CIFR

Creative Planning lifted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 45.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,144 shares of the company’s stock after purchasing an additional 36,251 shares during the quarter. Creative Planning’s holdings in Cipher Mining were worth $550,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Signal Advisors Wealth LLC acquired a new position in Cipher Mining during the second quarter worth $48,000. Custos Family Office LLC bought a new stake in shares of Cipher Mining during the second quarter worth about $48,000. Stoneridge Investment Partners LLC bought a new stake in shares of Cipher Mining during the first quarter worth about $29,000. R Squared Ltd bought a new position in Cipher Mining in the 2nd quarter valued at about $79,000. Finally, DLK Investment Management LLC lifted 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 valued at $92,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Buying and Selling at Cipher Mining

In related news, Director Cary M. Grossman sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total transaction of $475,000.00. Following the sale, the director directly owned 200,530 shares in the company, valued at approximately $3,810,070. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Wesley Hastie Williams sold 18,769 shares of Cipher Mining stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $17.51, for a total transaction of $328,645.19. Following the completion of the transaction, the director owned 208,012 shares of the company’s stock, valued at $3,642,290.12. This represents a 8.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 18,898,308 shares of company stock valued at $266,550,894. Insiders own 2.63% of the company’s stock.

Cipher Mining Trading Up 6.4%

NASDAQ:CIFR opened at $19.83 on Friday. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $25.52. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $17.79 and its 200 day moving average is $10.17. The stock has a market capitalization of $7.83 billion, a PE ratio of -110.17 and a beta of 2.91.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $106.69 million during the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. Sell-side analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on CIFR shares. Wall Street Zen raised Cipher Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Rosenblatt Securities increased their price target on Cipher Mining to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Citigroup initiated coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating on the stock. Needham & Company LLC increased their target price on shares of Cipher Mining from $15.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Northland Securities set a $27.50 price target on shares of Cipher Mining in a report on Tuesday, November 4th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.68.

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.