Cipher Mining Inc. $CIFR Position Reduced by Regal Partners Ltd

Regal Partners Ltd trimmed its position in Cipher Mining Inc. (NASDAQ:CIFR) by 68.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,196 shares of the company’s stock after selling 122,804 shares during the quarter. Regal Partners Ltd’s holdings in Cipher Mining were worth $736,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cipher Mining by 43.2% during the fourth 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. Voloridge Investment Management LLC acquired a new position in Cipher Mining in the 3rd quarter worth approximately $70,524,000. Situational Awareness LP boosted its stake in Cipher Mining by 82.4% in 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 during the period. Janus Henderson Group PLC grew its position in Cipher Mining by 3,718.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock worth $63,359,000 after purchasing an additional 4,180,362 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Cipher Mining during the 1st quarter worth approximately $9,316,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BTIG Research boosted their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods raised their target price on Cipher Mining from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday. Chardan Capital started coverage on Cipher Mining in a report on Monday. They set a “buy” rating and a $32.00 price target on the stock. Needham & Company LLC upped their price target on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Cantor Fitzgerald reduced their price objective on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cipher Mining presently has a consensus rating of “Moderate Buy” and an average target price of $28.74.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $20.42 on Wednesday. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -8.76 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 has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The business has a fifty day simple moving average of $23.35 and a 200 day simple moving average of $18.99.

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

Insiders Place Their Bets

In related news, Director James E. Newsome sold 3,758 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total transaction of $99,962.80. Following the transaction, the director owned 128,530 shares of the company’s stock, valued at approximately $3,418,898. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holding Ltd V3 sold 1,200,000 shares of Cipher Mining stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the completion of the sale, the insider owned 58,316,694 shares of the company’s stock, valued at $1,486,492,530.06. This trade represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,245,336 shares of company stock worth $83,803,938 in the last quarter. Corporate insiders own 2.63% of the company’s stock.

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.