Anthracite Investment Company Inc. Makes New Investment in Cipher Mining Inc. $CIFR

Anthracite Investment Company Inc. purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,000 shares of the company’s stock, valued at approximately $163,000.

A number of other hedge funds have also modified their holdings of CIFR. Signal Advisors Wealth LLC bought a new position in shares of Cipher Mining during the second quarter worth $48,000. Custos Family Office LLC bought a new position in shares of Cipher Mining during the second quarter worth $48,000. Stoneridge Investment Partners LLC bought a new position in shares of Cipher Mining during the first quarter worth $29,000. Valeo Financial Advisors LLC bought a new position in shares of Cipher Mining during the first quarter worth $37,000. Finally, R Squared Ltd bought a new position in shares of Cipher Mining during the second quarter worth $79,000. 12.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CIFR has been the subject of a number of research reports. Arete initiated coverage on shares of Cipher Mining in a research report on Wednesday, September 24th. They set a “buy” rating and a $24.00 target price for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Cipher Mining in a research report on Tuesday, October 14th. Arete Research began coverage on shares of Cipher Mining in a research report on Wednesday, September 24th. They set a “buy” rating and a $24.00 target price for the company. Canaccord Genuity Group upped their price target on shares of Cipher Mining from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cipher Mining from $6.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.68.

Insider Buying and Selling at Cipher Mining

In other news, major shareholder Holding Ltd V3 sold 535,843 shares of the stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $20.32, for a total value of $10,888,329.76. Following the sale, the insider owned 61,316,694 shares of the company’s stock, valued at approximately $1,245,955,222.08. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 26,581 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $21.08, for a total transaction of $560,327.48. Following the completion of the sale, the chief operating officer directly owned 1,213,919 shares in the company, valued at approximately $25,589,412.52. This represents a 2.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,585,388 shares of company stock worth $281,602,231. Insiders own 2.63% of the company’s stock.

Cipher Mining Trading Up 19.8%

Shares of CIFR opened at $20.66 on Friday. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $22.00. The company has a market cap of $8.13 billion, a P/E ratio of -48.05 and a beta of 2.87. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $12.37 and its 200-day simple moving average is $7.03.

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

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.