Sei Investments Co. Has $1.34 Million Stock Position in Cipher Mining Inc. $CIFR

Sei Investments Co. increased its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 174.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 104,260 shares of the company’s stock after purchasing an additional 66,267 shares during the period. Sei Investments Co.’s holdings in Cipher Mining were worth $1,342,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. HighTower Advisors LLC raised its position in shares of Cipher Mining by 16.6% in the 4th quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock valued at $9,915,000 after buying an additional 95,686 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Cipher Mining during the 4th quarter worth approximately $667,000. Purpose Unlimited Inc. acquired a new stake in shares of Cipher Mining during the 4th quarter worth approximately $1,558,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Cipher Mining in the first quarter valued at approximately $2,188,000. Finally, Tyche Wealth Partners LLC increased its stake in Cipher Mining by 119.0% in the fourth quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company’s stock valued at $1,697,000 after acquiring an additional 62,500 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CIFR. Jefferies Financial Group assumed coverage on Cipher Mining in a research note on Thursday, May 14th. They set a “buy” rating and a $32.00 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $32.00 price target on shares of Cipher Mining in a research note on Tuesday, August 4th. Needham & Company LLC boosted their price target on Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods dropped their price objective on Cipher Mining from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Sanford C. Bernstein started coverage on Cipher Mining in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.61.

Cipher Mining Price Performance

CIFR stock opened at $17.21 on Wednesday. The company has a 50 day simple moving average of $22.61 and a 200 day simple moving average of $19.11. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -6.02 and a beta of 3.20. Cipher Mining Inc. has a 1 year low of $4.67 and a 1 year high of $30.14. The company has a debt-to-equity ratio of 9.69, a current ratio of 3.00 and a quick ratio of 3.00.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, August 4th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.40). The company had revenue of $24.84 million during the quarter, compared to analyst estimates of $31.86 million. Cipher Mining had a negative net margin of 585.75% and a negative return on equity of 156.28%. During the same quarter in the prior year, the business earned ($0.12) EPS. Research analysts anticipate that Cipher Mining Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Tyler Page sold 112,500 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the sale, the chief executive officer owned 9,084,225 shares in the company, valued at $192,494,727.75. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total value of $47,916,000.00. Following the completion of the transaction, the insider directly owned 59,516,694 shares of the company’s stock, valued at approximately $1,584,334,394.28. The trade was a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,145,825 shares of company stock worth $81,741,167 in the last ninety days. Insiders own 3.09% 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.