First Trust Advisors LP Grows Stake in Cipher Mining Inc. $CIFR

First Trust Advisors LP boosted its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 27.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 783,684 shares of the company’s stock after acquiring an additional 171,051 shares during the quarter. First Trust Advisors LP’s holdings in Cipher Mining were worth $10,086,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CIFR. Millennium Management LLC bought a new stake in shares of Cipher Mining in the 1st quarter valued at approximately $9,316,000. Goldman Sachs Group Inc. increased its position in shares of Cipher Mining by 52.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after purchasing an additional 1,610,073 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Cipher Mining during the 2nd quarter valued at approximately $98,000. Prudential Financial Inc. raised its holdings in Cipher Mining by 113.7% during the 2nd quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock valued at $151,000 after buying an additional 16,810 shares during the period. Finally, XTX Topco Ltd raised its holdings in Cipher Mining by 65.2% during the 2nd quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock valued at $142,000 after buying an additional 11,725 shares during the period. 12.26% of the stock is owned by institutional investors.

Cipher Mining Price Performance

Shares of CIFR stock opened at $22.32 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 firm has a market capitalization of $9.13 billion, a P/E ratio of -9.58 and a beta of 3.18. The stock has a 50 day moving average price of $23.34 and a 200 day moving average price of $19.07.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The business had revenue of $34.84 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 28.8% on a year-over-year basis. As a group, sell-side analysts predict that Cipher Mining Inc. will post -0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CIFR shares. Sanford C. Bernstein assumed coverage on Cipher Mining in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price target for the company. Needham & Company LLC boosted their price objective on shares of Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Chardan Capital initiated coverage on shares of Cipher Mining in a research note on Monday, July 27th. They issued a “buy” rating and a $32.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Cipher Mining in a report on Thursday, May 14th. They issued a “buy” rating and a $32.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cipher Mining from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.74.

Insider Transactions at Cipher Mining

In other Cipher Mining news, CEO Tyler Page sold 112,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total value of $2,383,875.00. Following the completion of the sale, the chief executive officer directly owned 9,084,225 shares of the company’s stock, valued at $192,494,727.75. The trade was a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Patrick Arthur Kelly sold 48,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total transaction of $929,280.00. Following the completion of the sale, the chief operating officer directly owned 1,451,856 shares of the company’s stock, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,245,336 shares of company stock valued at $83,803,938. Company 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.