Global Assets Advisory LLC Takes $760,000 Position in Cipher Mining Inc. $CIFR

Global Assets Advisory LLC purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the first quarter, HoldingsChannel.com reports. The firm purchased 59,066 shares of the company’s stock, valued at approximately $760,000.

A number of other institutional investors have also modified their holdings of CIFR. Abel Hall LLC increased its position in shares of Cipher Mining by 3.8% in the first quarter. Abel Hall LLC now owns 20,140 shares of the company’s stock worth $259,000 after acquiring an additional 739 shares in the last quarter. CWM LLC increased its holdings in Cipher Mining by 43.3% during 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 last quarter. Prospera Financial Services Inc raised its position in shares of Cipher Mining by 6.7% in the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock valued at $230,000 after purchasing an additional 980 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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. Finally, Arax Advisory Partners lifted its position in shares of Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after purchasing an additional 1,338 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BTIG Research increased their target price on Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. HC Wainwright boosted their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC upped their target price on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Sanford C. Bernstein started coverage on Cipher Mining in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 price objective for the company. Finally, Cantor Fitzgerald dropped their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.31.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR traded down $1.15 during midday trading on Friday, reaching $22.11. 16,447,125 shares of the company traded hands, compared to its average volume of 22,877,190. The company has a market cap of $9.04 billion, a price-to-earnings ratio of -9.49 and a beta of 3.18. The stock has a 50-day moving average price of $23.17 and a 200 day moving average price of $18.53. 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 current ratio of 3.13 and a quick ratio of 3.13.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The company had revenue of $34.84 million for 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%. Cipher Mining’s revenue for the quarter was down 28.8% on a year-over-year basis. Sell-side analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Activity at Cipher Mining

In related news, major shareholder Holding Ltd V3 sold 1,800,000 shares of Cipher Mining stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total transaction of $47,916,000.00. Following the transaction, the insider directly owned 59,516,694 shares of the company’s stock, valued at $1,584,334,394.28. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley Hastie Williams sold 28,169 shares of the business’s stock in a transaction dated 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 sale, the director owned 129,976 shares in the company, valued at approximately $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 3,245,336 shares of company stock worth $83,803,938 in the last quarter. 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.