Geode Capital Management LLC Has $120.52 Million Stock Holdings in Cipher Mining Inc. $CIFR

Geode Capital Management LLC grew its position in Cipher Mining Inc. (NASDAQ:CIFR) by 7.3% during the 4th quarter, Holdings Channel reports. The firm owned 8,164,226 shares of the company’s stock after purchasing an additional 558,105 shares during the quarter. Geode Capital Management LLC’s holdings in Cipher Mining were worth $120,519,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sherman Asset Management Inc. acquired a new stake in shares of Cipher Mining in the 3rd quarter valued at $25,000. GAMMA Investing LLC boosted its stake in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after purchasing an additional 1,286 shares in the last quarter. Danske Bank A S boosted its stake in shares of Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after purchasing an additional 2,300 shares in the last quarter. CWM LLC boosted its stake in shares of Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Cipher Mining by 663.0% in the 3rd quarter. Parallel Advisors LLC now owns 4,166 shares of the company’s stock valued at $52,000 after purchasing an additional 3,620 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Stock Performance

Shares of NASDAQ:CIFR opened at $22.45 on Friday. The stock has a market capitalization of $9.18 billion, a P/E ratio of -9.64 and a beta of 3.18. Cipher Mining Inc. has a 1-year low of $3.29 and a 1-year high of $28.62. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The business has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $17.29.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.Cipher Mining’s quarterly revenue was down 28.8% on a year-over-year basis. Equities analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price target on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a report on Thursday. Cantor Fitzgerald cut their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. HC Wainwright lifted their price target on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC lifted their price target on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cipher Mining has an average rating of “Moderate Buy” and a consensus target price of $27.69.

Insider Activity

In other Cipher Mining news, CEO Tyler Page sold 37,500 shares of the business’s stock in a transaction dated Wednesday, March 25th. The stock was 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 directly owned 8,263,862 shares of the company’s stock, valued at approximately $133,130,816.82. The trade was a 0.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total value of $47,916,000.00. Following the sale, the insider directly owned 59,516,694 shares of the company’s stock, valued at $1,584,334,394.28. This represents a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,013,804 shares of company stock worth $51,793,735. 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.