Sippican Capital Advisors Invests $72,000 in Cipher Mining Inc. (NASDAQ:CIFR)

Sippican Capital Advisors bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 18,600 shares of the company’s stock, valued at approximately $72,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vima LLC lifted its stake in shares of Cipher Mining by 11.3% in the 3rd quarter. Vima LLC now owns 24,656 shares of the company’s stock valued at $95,000 after acquiring an additional 2,504 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Cipher Mining by 21.7% in the 2nd quarter. Victory Capital Management Inc. now owns 23,895 shares of the company’s stock worth $99,000 after buying an additional 4,256 shares during the period. Amalgamated Bank lifted its holdings in Cipher Mining by 321.8% in the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after buying an additional 4,557 shares during the period. Strategic Blueprint LLC lifted its holdings in Cipher Mining by 33.3% in the 3rd quarter. Strategic Blueprint LLC now owns 20,000 shares of the company’s stock worth $77,000 after buying an additional 5,000 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Cipher Mining by 25.0% in the 1st quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock worth $258,000 after buying an additional 10,000 shares during the period. Institutional investors own 12.26% of the company’s stock.

Analyst Ratings Changes

CIFR has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a report on Thursday, October 3rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a report on Thursday, August 29th. Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. Compass Point raised their target price on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC raised their target price on Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.21.

Cipher Mining Stock Down 7.4 %

Shares of Cipher Mining stock traded down $0.39 on Thursday, reaching $4.89. The company’s stock had a trading volume of 1,300,580 shares, compared to its average volume of 9,056,740. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 88.00 and a beta of 2.25. The firm’s fifty day simple moving average is $3.92 and its two-hundred day simple moving average is $4.25. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same quarter last year, the company earned ($0.05) EPS. Equities analysts anticipate that Cipher Mining Inc. will post -0.05 earnings per share for the current year.

Insider Transactions at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.22, for a total value of $6,220,000.00. Following the transaction, the insider now directly owns 99,047,588 shares in the company, valued at $616,075,997.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider William Iwaschuk sold 150,000 shares of Cipher Mining stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the transaction, the insider now directly owns 619,148 shares in the company, valued at approximately $2,439,443.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of Cipher Mining stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.22, for a total value of $6,220,000.00. Following the transaction, the insider now owns 99,047,588 shares in the company, valued at $616,075,997.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,943,078 shares of company stock worth $23,609,769 in the last ninety days. Insiders own 2.25% of the company’s stock.

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.