Capital Research Global Investors Purchases Shares of 1,995,945 Cipher Mining Inc. $CIFR

Capital Research Global Investors acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, Holdings Channel reports. The firm acquired 1,995,945 shares of the company’s stock, valued at approximately $29,460,000.

A number of other institutional investors have also recently made changes to their positions in CIFR. Millennium Management LLC acquired a new position in shares of Cipher Mining in the first quarter valued at approximately $9,316,000. Goldman Sachs Group Inc. grew its holdings in shares of Cipher Mining by 52.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after purchasing an additional 1,610,073 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Cipher Mining in the second quarter valued at approximately $98,000. Prudential Financial Inc. grew its holdings in shares of Cipher Mining by 113.7% in the second quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock valued at $151,000 after purchasing an additional 16,810 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Cipher Mining by 65.2% in the second quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock valued at $142,000 after purchasing an additional 11,725 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CIFR. Wall Street Zen cut shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a report on Wednesday, May 6th. Rosenblatt Securities lifted their price objective on shares of Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley dropped their price objective on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a report on Thursday, June 4th. Finally, Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.69.

Cipher Mining Trading Down 5.2%

NASDAQ CIFR opened at $23.03 on Wednesday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 52 week low of $3.29 and a 52 week high of $28.62. The stock has a market capitalization of $9.42 billion, a PE ratio of -9.88 and a beta of 3.18. The firm has a 50 day moving average of $19.48 and a two-hundred day moving average of $17.43.

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 return on equity of 117.65% and a negative net margin of 427.79%.The firm had revenue of $34.84 million for the quarter, compared to analyst estimates of $36.12 million. The company’s revenue was down 28.8% on a year-over-year basis. As a group, research analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director Cary M. Grossman sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $14.54, for a total transaction of $436,200.00. Following the completion of the transaction, the director owned 170,530 shares in the company, valued at $2,479,506.20. The trade was a 14.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick Arthur Kelly sold 48,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total transaction of $929,280.00. Following the transaction, the chief operating officer owned 1,451,856 shares of the company’s stock, valued at $28,107,932.16. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,213,804 shares of company stock worth $82,381,735 over the last ninety days. 2.63% of the stock is currently owned by insiders.

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.