Steamboat Capital Partners LLC acquired a new position in Cipher Mining Inc. (NASDAQ:CIFR – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 244,922 shares of the company’s stock, valued at approximately $6,001,000.
Several other institutional investors and hedge funds have also bought and sold shares of CIFR. Situational Awareness LP increased its position in shares of Cipher Mining by 82.4% during the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after purchasing an additional 4,728,600 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Cipher Mining by 2,413.6% in the second quarter. California State Teachers Retirement System now owns 9,198,966 shares of the company’s stock worth $225,375,000 after buying an additional 8,833,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cipher Mining by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock worth $120,519,000 after buying an additional 558,105 shares during the last quarter. State Street Corp grew its position in Cipher Mining by 10.2% during the fourth quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after buying an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC grew its position in Cipher Mining by 45.9% during the fourth quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock valued at $109,925,000 after buying an additional 2,342,958 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.
Cipher Mining Stock Performance
Shares of NASDAQ CIFR opened at $18.51 on Wednesday. The company has a market cap of $7.68 billion, a P/E ratio of -6.47 and a beta of 3.15. Cipher Mining Inc. has a 52-week low of $7.90 and a 52-week high of $30.14. The company has a debt-to-equity ratio of 9.69, a quick ratio of 3.00 and a current ratio of 3.00. The firm’s fifty day moving average is $19.07 and its two-hundred day moving average is $19.15.
Insider Activity
In other news, Director Cary M. Grossman sold 15,000 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $29.43, for a total value of $441,450.00. Following the sale, the director owned 143,829 shares of the company’s stock, valued at approximately $4,232,887.47. This represents a 9.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James E. Newsome sold 3,758 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $26.60, for a total transaction of $99,962.80. Following the completion of the sale, the director directly owned 128,530 shares in the company, valued at $3,418,898. This trade represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 131,258 shares of company stock worth $2,925,288. 3.09% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
CIFR has been the subject of several analyst reports. BTIG Research upped their price objective on Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Rosenblatt Securities reiterated a “buy” rating and set a $30.00 target price on shares of Cipher Mining in a research report on Friday, September 4th. Morgan Stanley set a $43.50 price target on Cipher Mining in a research report on Thursday, August 6th. Jefferies Financial Group began coverage on Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.61.
Read Our Latest Report on Cipher Mining
About Cipher Mining
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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