Purpose Unlimited Inc. Purchases Shares of 105,572 Cipher Mining Inc. $CIFR

Purpose Unlimited Inc. purchased a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 105,572 shares of the company’s stock, valued at approximately $1,558,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Cipher Mining by 13.4% during the third 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. raised its position in Cipher Mining by 138.2% in the third quarter. American Century Companies Inc. now owns 1,406,864 shares of the company’s stock worth $17,712,000 after acquiring an additional 816,198 shares during the period. HighTower Advisors LLC boosted its stake in shares of Cipher Mining by 16.6% during the 4th quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock worth $9,915,000 after acquiring an additional 95,686 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Cipher Mining during the 4th quarter worth $667,000. Finally, Tyche Wealth Partners LLC grew its position in shares of Cipher Mining by 119.0% during the 4th quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company’s stock valued at $1,697,000 after acquiring an additional 62,500 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $29.13 on Friday. 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 Inc. has a 1-year low of $3.29 and a 1-year high of $30.01. The company has a market capitalization of $11.92 billion, a P/E ratio of -12.50 and a beta of 3.18. The firm’s 50 day simple moving average is $21.46 and its two-hundred day simple moving average is $17.90.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $34.84 million during the quarter, compared to analysts’ expectations of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.Cipher Mining’s revenue was down 28.8% compared to the same quarter last year. Research analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director Wesley Hastie Williams sold 28,169 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total value 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 represents a 17.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Arthur Kelly sold 48,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total value of $929,280.00. Following the sale, the chief operating officer directly owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,185,336 shares of company stock worth $82,018,938 in the last 90 days. Company insiders own 2.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Jefferies Financial Group initiated coverage on Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 price objective for the company. Rosenblatt Securities lifted their target price on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their target price on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Finally, HC Wainwright upped their price target on Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.69.

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.