Harvest Portfolios Group Inc. Sells 84,204 Shares of Cipher Mining Inc. $CIFR

Harvest Portfolios Group Inc. lessened its position in Cipher Mining Inc. (NASDAQ:CIFR) by 30.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 194,569 shares of the company’s stock after selling 84,204 shares during the period. Harvest Portfolios Group Inc.’s holdings in Cipher Mining were worth $2,872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after buying an additional 1,286 shares in the last quarter. Sherman Asset Management Inc. bought a new stake in Cipher Mining during the 3rd quarter valued at about $25,000. Hollencrest Capital Management bought a new stake in Cipher Mining during the 3rd quarter valued at about $31,000. Danske Bank A S lifted its holdings in Cipher Mining by 1,150.0% during the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after buying an additional 2,300 shares in the last quarter. Finally, CWM LLC lifted its holdings in Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after buying an additional 804 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 3.6%

NASDAQ:CIFR opened at $19.48 on Thursday. Cipher Mining Inc. has a one year low of $3.08 and a one year high of $25.52. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The firm has a market cap of $7.97 billion, a P/E ratio of -8.36 and a beta of 3.13. The firm has a 50-day simple moving average of $16.87 and a 200-day simple moving average of $16.91.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. 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% on a year-over-year basis. Equities analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Patrick Arthur Kelly sold 48,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total value of $929,280.00. Following the completion of the sale, the chief operating officer owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. The trade was a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tyler Page sold 37,500 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total transaction of $604,125.00. Following the completion of the sale, the chief executive officer owned 8,263,862 shares of the company’s stock, valued at approximately $133,130,816.82. This represents a 0.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 244,398 shares of company stock worth $4,276,690. 2.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CIFR has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. BTIG Research reiterated a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a report on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Needham & Company LLC lifted their price objective on shares of Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald decreased their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cipher Mining has an average rating of “Moderate Buy” and a consensus price target of $27.00.

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.