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

Mariner Investment Group LLC bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 50,000 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Amalgamated Bank raised its position in Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after purchasing an additional 4,557 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Cipher Mining by 912.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after buying an additional 5,432 shares in the last quarter. Farther Finance Advisors LLC purchased a new stake in shares of Cipher Mining during the 3rd quarter valued at about $33,000. KBC Group NV acquired a new position in Cipher Mining during the 4th quarter worth approximately $46,000. Finally, Xponance Inc. purchased a new position in Cipher Mining in the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Northland Securities lifted their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. BTIG Research upped their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price on the stock in a research report on Tuesday, December 10th. Finally, Macquarie increased 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 research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.25.

Insider Activity at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 53,161 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $7.16, for a total transaction of $380,632.76. Following the completion of the transaction, the chief operating officer now owns 664,270 shares in the company, valued at $4,756,173.20. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total value of $1,980,000.00. Following the transaction, the insider now owns 98,747,588 shares of the company’s stock, valued at approximately $651,734,080.80. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 356,881 shares of company stock valued at $2,388,389 in the last quarter. Insiders own 2.25% of the company’s stock.

Cipher Mining Trading Up 6.7 %

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. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99. The stock has a 50 day moving average of $5.84 and a 200-day moving average of $5.01.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). The business had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same period in the prior year, the firm earned ($0.07) EPS. As a group, sell-side analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

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.