Mariner Investment Group LLC Invests $232,000 in Cipher Mining Inc. (NASDAQ:CIFR)

Mariner Investment Group LLC bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Cipher Mining by 17.3% in the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company’s stock worth $26,777,000 after acquiring an additional 1,019,949 shares during the period. Geode Capital Management LLC lifted its position in Cipher Mining by 37.8% in the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after purchasing an additional 1,511,455 shares during the period. Millennium Management LLC boosted its stake in Cipher Mining by 122.8% during the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after purchasing an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Cipher Mining by 41.5% during the 3rd quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after purchasing an additional 1,144,390 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of Cipher Mining by 73.4% in the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after buying an additional 1,584,874 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

Shares of CIFR opened at $5.90 on Monday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average is $5.84 and its 200-day moving average is $5.01. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The company had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. During the same quarter in the prior year, the company posted ($0.07) EPS. On average, analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

CIFR has been the subject of several research reports. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and set a $7.50 target price on shares of Cipher Mining in a report on Tuesday, January 21st. Finally, Macquarie upped their price target on Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $8.25.

Insider Transactions at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of Cipher Mining stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the completion of the sale, the insider now directly owns 98,747,588 shares in the company, valued at $651,734,080.80. The trade was a 0.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 53,161 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $7.16, for a total value of $380,632.76. Following the completion of the sale, the chief operating officer now directly owns 664,270 shares of the company’s stock, valued at approximately $4,756,173.20. The trade was a 7.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,881 shares of company stock valued at $2,388,389. 2.25% of the stock is owned by insiders.

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.