1,431,698 Shares in Cipher Mining Inc. $CIFR Purchased by Moore Capital Management LP

Moore Capital Management LP bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,431,698 shares of the company’s stock, valued at approximately $35,077,000. Cipher Mining comprises about 0.5% of Moore Capital Management LP’s holdings, making the stock its 28th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of CIFR. Vanguard Group Inc. raised its position in Cipher Mining by 43.2% during the 4th 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 last quarter. Situational Awareness LP boosted its holdings in shares of Cipher Mining by 82.4% in the 4th 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cipher Mining by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after acquiring an additional 558,105 shares during the last quarter. State Street Corp increased its stake in shares of 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 period. Finally, Value Aligned Research Advisors LLC increased its stake in shares of Cipher Mining by 45.9% in the fourth 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 during the period. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $30.00 target price on shares of Cipher Mining in a research report on Wednesday, August 5th. HC Wainwright upped their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods cut their price target on Cipher Mining from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research note on Wednesday, June 24th. Finally, BTIG Research boosted their price objective on Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and an average price target of $28.61.

Insider Activity

In related news, Director Cary M. Grossman sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following the sale, the director owned 143,829 shares in the company, valued at approximately $4,232,887.47. This trade represents a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Newsome sold 3,758 shares of Cipher Mining stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total transaction of $99,962.80. Following the completion of the transaction, the director directly owned 128,530 shares of the company’s stock, valued at $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. Insiders have sold a total of 3,131,258 shares of company stock worth $81,429,288 in the last ninety days. Corporate insiders own 3.09% of the company’s stock.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $15.17 on Monday. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of -5.30 and a beta of 3.20. Cipher Mining Inc. has a 12 month low of $6.95 and a 12 month high of $30.14. The firm’s 50 day simple moving average is $20.39 and its 200-day simple moving average is $19.13. The company has a debt-to-equity ratio of 9.69, a current ratio of 3.00 and a quick ratio of 3.00.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, August 4th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.40). Cipher Mining had a negative net margin of 585.75% and a negative return on equity of 156.28%. The firm had revenue of $24.84 million for the quarter, compared to analysts’ expectations of $31.86 million. During the same period last year, the firm earned ($0.12) earnings per share. Analysts expect that Cipher Mining Inc. will post -1.36 EPS for the current 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.