Clear Street Group Inc. Takes $14.98 Million Position in Cipher Mining Inc. $CIFR

Clear Street Group Inc. purchased a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFRFree Report) during the 4th quarter, Holdings Channel reports. The fund purchased 1,015,096 shares of the company’s stock, valued at approximately $14,983,000.

Several other large investors have also made changes to their positions in CIFR. Millennium Management LLC acquired a new position in shares of Cipher Mining during the first quarter valued at $9,316,000. Goldman Sachs Group Inc. lifted its stake in shares of Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after acquiring an additional 1,610,073 shares during the period. Franklin Resources Inc. acquired a new position in shares of Cipher Mining during the second quarter valued at $98,000. Prudential Financial Inc. increased its holdings in Cipher Mining by 113.7% in the second quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock valued at $151,000 after purchasing an additional 16,810 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in Cipher Mining by 65.2% in the second quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock valued at $142,000 after purchasing an additional 11,725 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Trading Up 8.3%

NASDAQ CIFR opened at $24.50 on Friday. The stock has a 50-day simple moving average of $20.09 and a 200 day simple moving average of $17.59. The company has a market capitalization of $10.02 billion, a PE ratio of -10.52 and a beta of 3.18. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $28.62.

Cipher Mining (NASDAQ:CIFRGet Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. Research analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. BTIG Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a report on Wednesday, May 6th. Jefferies Financial Group assumed coverage on Cipher Mining in a report on Thursday, May 14th. They issued a “buy” rating and a $32.00 price objective for the company. HC Wainwright upped their price objective on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods upped their price objective on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Cantor Fitzgerald dropped their price objective on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.

View Our Latest Report on Cipher Mining

Insider Buying and Selling at Cipher Mining

In related news, major shareholder Holding Ltd V3 sold 1,800,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total transaction of $47,916,000.00. Following the completion of the transaction, the insider directly owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. This trade represents a 2.94% 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 hyperlink. Also, COO Patrick Arthur Kelly sold 48,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the transaction, the chief operating officer owned 1,451,856 shares of the company’s stock, valued at approximately $28,107,932.16. The trade was a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,213,804 shares of company stock valued at $82,381,735 in the last 90 days. 2.63% of the stock is currently owned by corporate insiders.

Cipher Mining Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cipher Mining (NASDAQ:CIFR)

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