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 $13.3 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 71.68M shares have been available to trade.
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Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 1,627,843 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 10,732,711 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 3.95 million shares of the company’s stock, all valued at over $16.3 million. SPDR S&P Kensho New Economies Com sold 1616.0 shares to see its total holdings shrink to 1.65 million shares valued at over $6.8 million and representing 0.65% 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 2.8600, up 16.53%. The company’s stock has a 5-day price change of 2.61% and -22.32% over the past three months. CIFR shares are trading -33.41% year to date (YTD), with the 12-month market performance up to 143.36% higher. It has a 12-month low price of $1.18 and touched a high of $5.60 over the same period. CIFR has an average intraday trading volume of 7.28 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 -21.43%, -12.76%, and -8.52% respectively.
Institutional ownership of Cipher Mining Inc (NASDAQ: CIFR) shares accounts for 7.36% of the company’s 247.55M shares outstanding. Mutual fund holders own 2.82%, while other institutional holders and individual stakeholders account for 7.72% and 0.36% respectively.
It has a market capitalization of $700.31M and a beta (3y monthly) value of 2.06. 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 14.92% over the week and 12.89% over the month.
Analysts forecast that Cipher Mining Inc (CIFR) will achieve an EPS of -$0.04 for the current quarter, -$0.03 for the next quarter and -$0.16 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 23.40%, and 12.00% over the next financial year.
