Cipher Mining Inc. $CIFR Shares Sold by Two Seas Capital LP

Two Seas Capital LP lessened its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 33.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 305,756 shares of the company’s stock after selling 156,244 shares during the quarter. Cipher Mining comprises about 0.1% of Two Seas Capital LP’s holdings, making the stock its 26th biggest position. Two Seas Capital LP’s holdings in Cipher Mining were worth $4,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC lifted its position in shares of Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after acquiring an additional 804 shares during the last quarter. Prospera Financial Services Inc lifted its position in shares of Cipher Mining by 6.7% during the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock valued at $230,000 after acquiring an additional 980 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after acquiring an additional 1,286 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Cipher Mining by 26.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock valued at $104,000 after acquiring an additional 1,468 shares during the last quarter. Finally, DKM Wealth Management Inc. lifted its position in shares of Cipher Mining by 15.1% during the 4th quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock valued at $212,000 after acquiring an additional 1,886 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CIFR shares. Keefe, Bruyette & Woods increased their price objective on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Needham & Company LLC increased their price objective on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Finally, HC Wainwright boosted their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.69.

Insiders Place Their Bets

In other news, major shareholder Holding Ltd V3 sold 1,800,000 shares of the company’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 transaction, the insider directly owned 59,516,694 shares of the company’s stock, valued at approximately $1,584,334,394.28. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wesley Hastie Williams sold 28,169 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total transaction of $627,041.94. Following the completion of the transaction, the director directly owned 129,976 shares in the company, valued at $2,893,265.76. This trade represents a 17.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,013,804 shares of company stock valued at $51,793,735 in the last three months. Company insiders own 2.63% of the company’s stock.

Cipher Mining Trading Down 12.1%

NASDAQ CIFR opened at $22.45 on Friday. Cipher Mining Inc. has a 1-year low of $3.29 and a 1-year high of $28.62. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The company has a market capitalization of $9.18 billion, a PE ratio of -9.64 and a beta of 3.18. The firm’s fifty day simple moving average is $19.10 and its 200-day simple moving average is $17.29.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly 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). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. The firm’s revenue was down 28.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Cipher Mining 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.