Texas Capital Bank Wealth Management Services Inc Buys Shares of 31,240 Cipher Mining Inc. $CIFR

Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,240 shares of the company’s stock, valued at approximately $461,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Cipher Mining by 43.2% during the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after acquiring an additional 9,865,533 shares during the period. Geode Capital Management LLC lifted its stake in Cipher Mining by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after acquiring an additional 558,105 shares during the period. Tidal Investments LLC lifted its stake in Cipher Mining by 28.3% during the 2nd quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock valued at $33,386,000 after acquiring an additional 1,541,138 shares during the period. Invesco Ltd. lifted its stake in Cipher Mining by 40.0% during the 3rd quarter. Invesco Ltd. now owns 6,852,074 shares of the company’s stock valued at $86,268,000 after acquiring an additional 1,958,385 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Cipher Mining by 64.9% during the 3rd quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company’s stock valued at $84,937,000 after acquiring an additional 2,655,015 shares during the period. Institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CIFR shares. Rosenblatt Securities upped their target price on shares of Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Wall Street Zen cut shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. HC Wainwright upped their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Insider Activity at Cipher Mining

In related news, Director Cary M. Grossman sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total transaction of $436,400.00. Following the completion of the sale, the director directly owned 150,530 shares in the company, valued at approximately $3,284,564.60. The trade was a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Newsome sold 45,161 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total transaction of $710,834.14. Following the sale, the director owned 127,331 shares of the company’s stock, valued at $2,004,189.94. This trade represents a 26.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 258,965 shares of company stock valued at $4,588,569 in the last three months. Corporate insiders own 2.63% of the company’s stock.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $24.59 on Friday. The firm has a 50 day moving average of $17.91 and a 200 day moving average of $16.96. 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 firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of -10.55 and a beta of 3.13. Cipher Mining Inc. has a 12-month low of $3.08 and a 12-month high of $25.56.

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). The business had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, research analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

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.