Vanguard Group Inc. Boosts Holdings in Cipher Mining Inc. $CIFR

Vanguard Group Inc. boosted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 43.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,680,186 shares of the company’s stock after buying an additional 9,865,533 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Cipher Mining worth $482,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after acquiring an additional 1,286 shares during the period. Sherman Asset Management Inc. purchased a new stake in shares of Cipher Mining in the 3rd quarter worth $25,000. Hollencrest Capital Management purchased a new stake in shares of Cipher Mining in the 3rd quarter worth $31,000. CWM LLC raised its holdings in Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares during the period. Finally, Peterson Wealth Services bought a new position in Cipher Mining in the 3rd quarter worth $41,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $22.10 on Wednesday. The company has a market cap of $8.97 billion, a P/E ratio of -10.23 and a beta of 3.13. Cipher Mining Inc. has a 52-week low of $2.88 and a 52-week high of $25.52. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79. The firm’s fifty day moving average is $15.79 and its two-hundred day moving average is $16.80.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 367.17% and a negative return on equity of 107.05%. The firm had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $36.12 million. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. As a group, analysts anticipate that Cipher Mining Inc. will post -0.9 EPS for the current fiscal year.

Insider Transactions at Cipher Mining

In related news, CEO Tyler Page sold 37,500 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the sale, the chief executive officer owned 8,263,862 shares in the company, valued at approximately $133,130,816.82. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cary M. Grossman sold 30,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.54, for a total transaction of $436,200.00. Following the sale, the director directly owned 170,530 shares in the company, valued at approximately $2,479,506.20. The trade was a 14.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 148,229 shares of company stock worth $2,283,968. 2.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CIFR has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Cipher Mining in a report on Wednesday, March 25th. HC Wainwright raised their price objective on Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $24.00 target price on shares of Cipher Mining in a research note on Thursday, March 26th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average target price of $25.36.

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.