Phoenix Financial Ltd. Sells 51,400 Shares of Cipher Mining Inc. $CIFR

Phoenix Financial Ltd. lowered its position in Cipher Mining Inc. (NASDAQ:CIFR) by 63.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,231 shares of the company’s stock after selling 51,400 shares during the quarter. Phoenix Financial Ltd.’s holdings in Cipher Mining were worth $381,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CIFR. Steward Partners Investment Advisory LLC boosted its position in Cipher Mining by 258.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after purchasing an additional 6,516 shares during the period. Custos Family Office LLC purchased a new stake in shares of Cipher Mining during the 2nd quarter valued at approximately $48,000. Maripau Wealth Management LLC bought a new position in Cipher Mining in the 2nd quarter worth approximately $48,000. Rafferty Asset Management LLC purchased a new position in Cipher Mining in the 2nd quarter valued at approximately $54,000. Finally, Strs Ohio purchased a new position in Cipher Mining in the 3rd quarter valued at approximately $76,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CIFR. Citizens Jmp started coverage on Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 target price on the stock. Rosenblatt Securities increased their price objective on Cipher Mining to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. BTIG Research reissued a “buy” rating and issued a $25.00 price target on shares of Cipher Mining in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Monday, December 29th. Finally, JMP Securities set a $30.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 19th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and an average target price of $24.54.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $18.97 on Thursday. The stock has a market cap of $7.49 billion, a P/E ratio of -105.39 and a beta of 2.94. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average price is $17.20 and its two-hundred day moving average price is $13.70. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The company had revenue of $106.69 million for the quarter, compared to analysts’ expectations of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. As a group, equities analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity

In other Cipher Mining news, Director Cary M. Grossman sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $19.00, for a total transaction of $475,000.00. Following the sale, the director owned 200,530 shares in the company, valued at $3,810,070. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total value of $801,861.36. Following the sale, the director directly owned 158,145 shares of the company’s stock, valued at approximately $2,542,971.60. This trade represents a 23.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 444,117 shares of company stock worth $8,340,332. Corporate insiders own 2.63% of the company’s stock.

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.