Cipher Mining Inc. $CIFR is Galaxy Digital Capital Management GP LLC’s 2nd Largest Position

Galaxy Digital Capital Management GP LLC lifted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 112.6% during the first quarter, Holdings Channel reports. The institutional investor owned 505,466 shares of the company’s stock after purchasing an additional 267,715 shares during the period. Cipher Mining makes up approximately 6.9% of Galaxy Digital Capital Management GP LLC’s investment portfolio, making the stock its 2nd biggest position. Galaxy Digital Capital Management GP LLC’s holdings in Cipher Mining were worth $6,505,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Galaxy Digital Inc. bought a new stake in Cipher Mining during the first quarter valued at about $579,000. Renaissance Technologies LLC bought a new position in Cipher Mining in the 1st quarter worth approximately $24,486,000. Sei Investments Co. grew its holdings in Cipher Mining by 174.4% during the 1st quarter. Sei Investments Co. now owns 104,260 shares of the company’s stock valued at $1,342,000 after buying an additional 66,267 shares in the last quarter. First Trust Advisors LP grew its holdings in Cipher Mining by 27.9% during the 1st quarter. First Trust Advisors LP now owns 783,684 shares of the company’s stock valued at $10,086,000 after buying an additional 171,051 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Cipher Mining by 31.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,718 shares of the company’s stock valued at $86,000 after buying an additional 1,623 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Insiders Place Their Bets

In other news, Director Wesley Hastie Williams sold 14,567 shares of Cipher Mining stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total transaction of $311,879.47. Following the completion of the sale, the director directly owned 115,409 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cary M. Grossman sold 15,000 shares of Cipher Mining stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following the sale, the director owned 143,829 shares of the company’s stock, valued at $4,232,887.47. The trade was a 9.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,245,336 shares of company stock valued at $83,803,938. Insiders own 2.63% of the company’s stock.

Cipher Mining Stock Performance

Cipher Mining stock opened at $23.15 on Friday. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The firm has a market capitalization of $9.47 billion, a P/E ratio of -9.94 and a beta of 3.18. Cipher Mining Inc. has a 1-year low of $4.55 and a 1-year high of $30.14. The company’s 50-day moving average is $23.27 and its 200 day moving average is $18.93.

Cipher Mining (NASDAQ:CIFR) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (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 for the quarter, compared to analysts’ expectations of $36.12 million. The business’s revenue was down 28.8% compared to the same quarter last year. Research analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CIFR. Keefe, Bruyette & Woods increased 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 upped their price objective on Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Jefferies Financial Group began coverage on shares of Cipher Mining in a research report on Thursday, May 14th. They issued a “buy” rating and a $32.00 price target on the stock. Cantor Fitzgerald decreased their target price on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Morgan Stanley dropped their price target on Cipher Mining from $48.50 to $47.00 and set an “overweight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.22.

Cipher Mining 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.