Cipher Mining Inc. $CIFR Shares Bought by Engle Capital Management L.P.

Engle Capital Management L.P. grew its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 982.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 777,000 shares of the company’s stock after buying an additional 705,200 shares during the quarter. Cipher Mining comprises 3.4% of Engle Capital Management L.P.’s portfolio, making the stock its 13th largest holding. Engle Capital Management L.P.’s holdings in Cipher Mining were worth $10,000,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CIFR. Vanguard Group Inc. increased its stake in shares of Cipher Mining by 43.2% during the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock worth $482,360,000 after buying an additional 9,865,533 shares during the period. Situational Awareness LP raised its holdings in Cipher Mining by 82.4% in the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after acquiring an additional 4,728,600 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cipher Mining by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock worth $120,519,000 after acquiring an additional 558,105 shares during the last quarter. State Street Corp lifted its stake in Cipher Mining by 10.2% in the fourth quarter. State Street Corp now owns 8,078,423 shares of the company’s stock worth $119,238,000 after acquiring an additional 745,030 shares during the last quarter. Finally, Value Aligned Research Advisors LLC grew its holdings in Cipher Mining by 45.9% during the 4th quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock worth $109,925,000 after acquiring an additional 2,342,958 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Trading Down 6.5%

NASDAQ CIFR opened at $21.65 on Tuesday. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The firm’s fifty day moving average price is $23.32 and its 200 day moving average price is $18.96. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of -9.29 and a beta of 3.18. Cipher Mining Inc. has a 12 month low of $4.55 and a 12 month high of $30.14.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $36.12 million. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, sell-side analysts expect that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

CIFR has been the topic of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on shares of Cipher Mining in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Cipher Mining in a research report on Thursday, May 14th. They set a “buy” rating and a $32.00 price objective for the company. Cantor Fitzgerald lowered their target price on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Needham & Company LLC increased 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. Finally, Morgan Stanley cut their price target on Cipher Mining from $48.50 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.44.

Insider Transactions at Cipher Mining

In related news, Director Cary M. Grossman sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $29.43, for a total value of $441,450.00. Following the completion of the sale, the director directly owned 143,829 shares of the company’s stock, valued at $4,232,887.47. This represents a 9.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 stock was sold at an average price of $25.49, for a total value 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 represents a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,245,336 shares of company stock worth $83,803,938. 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.