Engle Capital Management L.P. Makes New Investment in Cipher Mining Inc. $CIFR

Engle Capital Management L.P. purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 71,800 shares of the company’s stock, valued at approximately $1,060,000. Cipher Mining comprises 0.4% of Engle Capital Management L.P.’s investment portfolio, making the stock its 27th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Azora Capital LP acquired a new stake in Cipher Mining in the 4th quarter worth $13,145,000. Value Aligned Research Advisors LLC grew its holdings in shares of Cipher Mining by 45.9% during the 4th quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock worth $109,925,000 after purchasing an additional 2,342,958 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Cipher Mining by 1,290.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 202,106 shares of the company’s stock worth $2,983,000 after purchasing an additional 187,574 shares in the last quarter. Gillson Capital LP acquired a new stake in shares of Cipher Mining during the 4th quarter worth approximately $6,148,000. Finally, AQR Capital Management LLC grew its holdings in shares of Cipher Mining by 68.9% during the 4th quarter. AQR Capital Management LLC now owns 91,343 shares of the company’s stock worth $1,348,000 after purchasing an additional 37,276 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Trading Up 0.5%

Shares of CIFR opened at $26.35 on Thursday. 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 stock has a 50 day simple moving average of $20.89 and a 200-day simple moving average of $17.75. The stock has a market cap of $10.78 billion, a PE ratio of -11.31 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining’s revenue was down 28.8% on a year-over-year basis. On average, sell-side analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on CIFR shares. Cantor Fitzgerald reduced their target price on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Sanford C. Bernstein started coverage on Cipher Mining in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price for the company. Rosenblatt Securities raised their target price on Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. HC Wainwright raised their target price on Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley reduced their target price on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research report on Thursday, June 4th. One equities 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.69.

Insider Activity

In other news, Director Wesley Hastie Williams sold 14,567 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $21.41, for a total transaction of $311,879.47. Following the completion of the sale, the director owned 115,409 shares of the company’s stock, valued at approximately $2,470,906.69. This trade represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tyler Page sold 37,500 shares of Cipher Mining stock in a transaction that occurred on 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 transaction, the chief executive officer owned 8,263,862 shares of the company’s stock, valued at $133,130,816.82. This trade represents a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,178,236 shares of company stock valued at $81,848,926. Corporate insiders own 2.63% of the company’s stock.

Cipher Mining Company Profile

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.