The Vanguard Group, Inc. recently announced the acquisition of new stake in Cipher Mining Inc (NASDAQ:CIFR). The institutional investor has increased its shareholding in the Financial company by 2.98% to 3.22 million shares with purchase of 93130.0 shares. This fresh investment now brings its stake to 1.26% valued currently at $8.92 million. In addition, BlackRock Fund Advisors raised its holdings by 0.49 million to 2.69 million shares. And SSgA Funds Management, Inc. has lifted its position by 4.25% or 93382.0 shares – to 2.29 million shares.
Currently, there are 247.55M common shares owned by the public and among those 56.36M shares have been available to trade.
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Insiders at the company have transacted a total of 42 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 3,039,983 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 11,257,278 shares.
The top 3 mutual fund holders in Cipher Mining Inc are Amplify Transformational Data Sha, SPDR S&P Kensho New Economies Com, and Vanguard Total Stock Market ETF. Amplify Transformational Data Sha owns 2.72 million shares of the company’s stock, all valued at over $7.52 million. The company bought an additional 0.11 million shares recently to bring their total holdings to about 1.07% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 0.51% of the shares outstanding.
However, the script later moved the day high at 3.2100, up 20.77%. The company’s stock has a 5-day price change of 28.16% and 14.18% over the past three months. CIFR shares are trading 460.71% year to date (YTD), with the 12-month market performance up to 353.17% higher. It has a 12-month low price of $0.38 and touched a high of $5.30 over the same period. CIFR has an average intraday trading volume of 2.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.77%, 8.82%, and 12.23% respectively.
Institutional ownership of Cipher Mining Inc (NASDAQ: CIFR) shares accounts for 7.17% of the company’s 247.55M shares outstanding. Mutual fund holders own 2.50%, while other institutional holders and individual stakeholders account for 6.45% and 0.92% respectively.
It has a market capitalization of $799.63M and a beta (3y monthly) value of 1.95. The earnings-per-share (ttm) stands at -$0.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.80% over the week and 8.70% over the month.
Analysts forecast that Cipher Mining Inc (CIFR) will achieve an EPS of -$0.05 for the current quarter, -$0.04 for the next quarter and -$0.2 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$0.21 a year ago. Earnings per share for the fiscal year are expected to increase by 24.31%, and -1.88% over the next financial year.
