BIT Capital GmbH Has $13.69 Million Stake in Cipher Mining Inc. $CIFR

BIT Capital GmbH decreased its position in Cipher Mining Inc. (NASDAQ:CIFR) by 62.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 927,393 shares of the company’s stock after selling 1,512,290 shares during the quarter. BIT Capital GmbH’s holdings in Cipher Mining were worth $13,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CIFR. Millennium Management LLC acquired a new position in shares of Cipher Mining in the first quarter valued at approximately $9,316,000. Goldman Sachs Group Inc. grew its position in Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after buying an additional 1,610,073 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Cipher Mining during the second quarter worth approximately $98,000. Prudential Financial Inc. grew its position in Cipher Mining by 113.7% during the second quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock worth $151,000 after buying an additional 16,810 shares in the last quarter. Finally, XTX Topco Ltd grew its position in Cipher Mining by 65.2% during the second quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock worth $142,000 after buying an additional 11,725 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Trading Down 12.1%

Shares of CIFR stock opened at $22.45 on Friday. The stock’s fifty day moving average price is $19.10 and its two-hundred day moving average price is $17.29. The company has a market cap of $9.18 billion, a PE ratio of -9.64 and a beta of 3.18. Cipher Mining Inc. has a fifty-two week low of $3.29 and a fifty-two week high of $28.62. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results 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). The business had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The firm’s revenue was down 28.8% on a year-over-year basis. Equities analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insider Transactions at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 48,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the sale, the chief operating officer 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total value of $47,916,000.00. Following the completion of the sale, the insider directly owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. This represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,013,804 shares of company stock worth $51,793,735. 2.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CIFR. Cantor Fitzgerald reduced their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Needham & Company LLC increased their price target on Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Jefferies Financial Group began coverage on Cipher Mining in a research report on Thursday, May 14th. They set a “buy” rating and a $32.00 price target on the stock. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Finally, Keefe, Bruyette & Woods increased their price target on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.

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.