Private Advisor Group LLC Sells 389,851 Shares of Cipher Mining Inc. $CIFR

Private Advisor Group LLC lowered its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 17.3% during the first quarter, HoldingsChannel reports. The firm owned 1,859,126 shares of the company’s stock after selling 389,851 shares during the quarter. Private Advisor Group LLC’s holdings in Cipher Mining were worth $23,927,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 9,865,533 shares in the last quarter. Situational Awareness LP increased its stake in Cipher Mining by 82.4% during the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after purchasing an additional 4,728,600 shares in the last quarter. Geode Capital Management LLC increased 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 worth $120,519,000 after purchasing an additional 558,105 shares in the last quarter. State Street Corp raised its holdings in Cipher Mining by 10.2% during the 4th quarter. State Street Corp now owns 8,078,423 shares of the company’s stock worth $119,238,000 after buying an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC raised its holdings in 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 buying an additional 2,342,958 shares during the period. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $20.04 on Friday. Cipher Mining Inc. has a 52 week low of $4.55 and a 52 week high of $30.14. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The stock’s 50 day moving average price is $22.77 and its two-hundred day moving average price is $18.30. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -8.60 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results 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). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. As a group, analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Morgan Stanley dropped their price objective on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Cantor Fitzgerald cut their price objective 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. BTIG Research upped their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods increased their target price on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.31.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, Director Cary M. Grossman sold 20,000 shares of Cipher Mining stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total value of $436,400.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $47,916,000.00. Following the sale, the insider directly owned 59,516,694 shares in the company, valued at $1,584,334,394.28. This trade represents a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,132,836 shares of company stock valued at $81,420,063 in the last three months. 2.63% of the stock is currently owned by insiders.

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.