Clearline Capital LP Purchases Shares of 1,220,530 Cipher Mining Inc. $CIFR

Clearline Capital LP acquired a new position in Cipher Mining Inc. (NASDAQ:CIFR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,220,530 shares of the company’s stock, valued at approximately $15,366,000. Clearline Capital LP owned approximately 0.31% of Cipher Mining at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sherman Asset Management Inc. purchased a new position in shares of Cipher Mining during the 3rd quarter valued at $25,000. Hollencrest Capital Management bought a new stake in Cipher Mining during the third quarter valued at about $31,000. Peterson Wealth Services bought a new stake in Cipher Mining during the third quarter valued at about $41,000. Steward Partners Investment Advisory LLC lifted its position in shares of Cipher Mining by 258.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after acquiring an additional 6,516 shares in the last quarter. Finally, Maripau Wealth Management LLC bought a new position in shares of Cipher Mining in the second quarter worth about $48,000. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Up 2.7%

Shares of CIFR opened at $14.08 on Friday. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of -6.52 and a beta of 2.96. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $25.52. The business’s 50 day simple moving average is $16.27 and its 200-day simple moving average is $15.86. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.79 and a quick ratio of 3.79.

Insider Buying and Selling

In other Cipher Mining news, Director James E. Newsome sold 45,161 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total transaction of $710,834.14. Following the completion of the transaction, the director owned 127,331 shares in the company, valued at $2,004,189.94. This trade represents a 26.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction on Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the transaction, the director directly owned 158,145 shares of the company’s stock, valued at $2,542,971.60. The trade was a 23.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 187,986 shares of company stock worth $3,030,554. Insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

CIFR has been the subject of several research analyst reports. Citizens Jmp set a $30.00 target price on Cipher Mining in a research report on Wednesday, November 19th. Citigroup assumed coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating for the company. Morgan Stanley assumed coverage on shares of Cipher Mining in a report on Monday, February 9th. They issued an “overweight” rating and a $38.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on shares of Cipher Mining from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $12.00 to $18.00 in a research note on Monday, November 24th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.32.

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.