Voya Investment Management LLC Acquires 327,912 Shares of Cipher Mining Inc. $CIFR

Voya Investment Management LLC increased its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 454.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 400,090 shares of the company’s stock after purchasing an additional 327,912 shares during the period. Voya Investment Management LLC owned approximately 0.10% of Cipher Mining worth $5,037,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of Cipher Mining during the 1st quarter worth approximately $9,316,000. Alyeska Investment Group L.P. acquired a new position in shares of Cipher Mining during the 1st quarter valued at $7,094,000. JPMorgan Chase & Co. boosted its stake in Cipher Mining by 996.9% during the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock worth $10,645,000 after acquiring an additional 2,023,994 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Cipher Mining by 52.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after purchasing an additional 1,610,073 shares during the period. Finally, Tidal Investments LLC grew its holdings in Cipher Mining by 28.3% in the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after purchasing an additional 1,541,138 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Stock Up 1.9%

Cipher Mining stock opened at $16.21 on Friday. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $25.52. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The firm’s 50-day simple moving average is $17.99 and its 200 day simple moving average is $11.56. The stock has a market cap of $6.40 billion, a PE ratio of -90.03 and a beta of 2.91.

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

Wall Street Analysts Forecast Growth

CIFR has been the topic of a number of research analyst reports. Northland Securities set a $27.50 price objective on shares of Cipher Mining in a research report on Tuesday, November 4th. Macquarie raised their price objective on Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. JMP Securities set a $30.00 target price on Cipher Mining in a research report on Wednesday, November 19th. Citizens Jmp started coverage on shares of Cipher Mining in a research report on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cipher Mining in a research note on Monday, December 15th. Thirteen equities 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.73.

Insiders Place Their Bets

In related news, Director Wesley Hastie Williams sold 49,867 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares in the company, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Iwaschuk sold 173,094 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $22.52, for a total transaction of $3,898,076.88. Following the sale, the insider owned 1,054,488 shares of the company’s stock, valued at $23,747,069.76. This trade represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,970,973 shares of company stock worth $127,044,253 over the last 90 days. Company insiders own 2.63% of the company’s stock.

Cipher Mining Company Profile

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.