Cipher Mining Inc. $CIFR Stake Reduced by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 29.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 60,505 shares of the company’s stock after selling 24,727 shares during the period. Sanctuary Advisors LLC’s holdings in Cipher Mining were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in Cipher Mining in the fourth quarter valued at $25,000. Arax Advisory Partners grew 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 acquiring an additional 1,338 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after acquiring an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Cipher Mining in the 4th quarter worth about $28,000. Finally, Danske Bank A S increased its holdings in shares of Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,300 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Holding Ltd V3 sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the transaction, the insider owned 58,316,694 shares in the company, valued at $1,486,492,530.06. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Newsome sold 3,758 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $26.60, for a total value of $99,962.80. Following the sale, the director directly owned 128,530 shares in the company, valued at approximately $3,418,898. The trade was a 2.84% decrease in their position. 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 worth $83,803,938. Company insiders own 2.63% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CIFR. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of Cipher Mining in a research note on Thursday, June 25th. Chardan Capital set a $32.00 price target on shares of Cipher Mining in a research note on Monday. HC Wainwright raised their price target 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. BTIG Research lifted their price target on Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.44.

Cipher Mining Stock Performance

CIFR stock opened at $23.15 on Monday. The company has a 50-day simple moving average of $23.27 and a 200 day simple moving average of $18.93. The company has a market capitalization of $9.47 billion, a P/E ratio of -9.94 and a beta of 3.18. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $30.14.

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 predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

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.