CastleKnight Management LP Has $8.55 Million Stake in Cipher Mining Inc. $CIFR

CastleKnight Management LP trimmed its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 32.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 579,000 shares of the company’s stock after selling 278,700 shares during the quarter. CastleKnight Management LP owned approximately 0.15% of Cipher Mining worth $8,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Cipher Mining by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock valued at $287,236,000 after buying an additional 2,699,717 shares during the last quarter. American Century Companies Inc. lifted its holdings in Cipher Mining by 138.2% in the 3rd quarter. American Century Companies Inc. now owns 1,406,864 shares of the company’s stock worth $17,712,000 after purchasing an additional 816,198 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Cipher Mining by 16.6% in the 4th quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock worth $9,915,000 after purchasing an additional 95,686 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in Cipher Mining in the 4th quarter worth approximately $667,000. Finally, Tyche Wealth Partners LLC lifted its holdings in Cipher Mining by 119.0% in the 4th quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company’s stock worth $1,697,000 after purchasing an additional 62,500 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cipher Mining

In other news, Director Cary M. Grossman sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.54, for a total transaction of $436,200.00. Following the completion of the transaction, the director directly owned 170,530 shares in the company, valued at $2,479,506.20. The trade was a 14.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total value of $47,916,000.00. Following the transaction, the insider owned 59,516,694 shares of the company’s stock, valued at approximately $1,584,334,394.28. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,178,236 shares of company stock valued at $81,848,926. 2.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Keefe, Bruyette & Woods boosted their target price on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Sanford C. Bernstein assumed coverage on Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price for the company. BTIG Research restated a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a report on Wednesday, May 6th. Finally, Rosenblatt Securities boosted their target price on Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.69.

Cipher Mining Stock Up 0.5%

Shares of CIFR stock opened at $26.35 on Thursday. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $28.62. The firm has a market cap of $10.78 billion, a PE ratio of -11.31 and a beta of 3.18. The stock has a 50 day moving average of $20.89 and a 200-day moving average of $17.75. 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 (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS 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 business had revenue of $34.84 million for the quarter, compared to analyst estimates of $36.12 million. The company’s revenue was down 28.8% compared to the same quarter last year. On average, equities analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current 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.