Private Advisor Group LLC lowered its position in shares of Cipher Mining Inc. (NASDAQ:CIFR – Free Report) by 17.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,859,126 shares of the company’s stock after selling 389,851 shares during the quarter. Private Advisor Group LLC owned approximately 0.46% of Cipher Mining worth $23,927,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CIFR. Vanguard Group Inc. increased its position in Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock worth $482,360,000 after purchasing an additional 9,865,533 shares during the period. Situational Awareness LP raised its holdings in Cipher Mining by 82.4% during the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after purchasing an additional 4,728,600 shares during the last quarter. Geode Capital Management LLC lifted its position in Cipher Mining by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after purchasing an additional 558,105 shares during the period. State Street Corp lifted its position in Cipher Mining by 10.2% during the 4th quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after purchasing an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC boosted its stake in shares of Cipher Mining by 45.9% in the 4th quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock valued at $109,925,000 after purchasing an additional 2,342,958 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.
Wall Street Analyst Weigh In
CIFR has been the subject of several analyst reports. HC Wainwright lifted their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price objective on shares of Cipher Mining in a report on Thursday, June 25th. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Needham & Company LLC lifted their target price on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Morgan Stanley dropped their target price on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.31.
Insider Activity
In other Cipher Mining news, COO Patrick Arthur Kelly sold 48,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total value of $929,280.00. Following the sale, the chief operating officer directly owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wesley Hastie Williams sold 28,169 shares of Cipher Mining stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total transaction of $627,041.94. Following the transaction, the director directly owned 129,976 shares in the company, valued at approximately $2,893,265.76. This represents a 17.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,132,836 shares of company stock valued at $81,420,063. 2.63% of the stock is currently owned by company insiders.
Cipher Mining Price Performance
Shares of CIFR opened at $20.04 on Friday. The stock has a market cap of $8.20 billion, a P/E ratio of -8.60 and a beta of 3.18. Cipher Mining Inc. has a 1 year low of $4.55 and a 1 year high of $30.14. The stock’s 50-day moving average price is $22.77 and its two-hundred day moving average price is $18.30. 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 (NASDAQ:CIFR – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The company had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The firm’s revenue was down 28.8% on a year-over-year basis. On average, equities analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current year.
Cipher Mining 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.
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