1,220,530 Shares in Cipher Mining Inc. $CIFR Purchased by Clearline Capital LP

Clearline Capital LP acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,220,530 shares of the company’s stock, valued at approximately $15,366,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in shares of Cipher Mining in the 1st quarter valued at approximately $9,316,000. Goldman Sachs Group Inc. increased its position in shares of Cipher Mining by 52.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after purchasing an additional 1,610,073 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Cipher Mining by 42.9% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,005 shares of the company’s stock valued at $292,000 after purchasing an additional 18,304 shares during the last quarter. ProShare Advisors LLC raised its holdings in Cipher Mining by 24.0% during the 2nd quarter. ProShare Advisors LLC now owns 54,387 shares of the company’s stock valued at $260,000 after buying an additional 10,543 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Cipher Mining by 18.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company’s stock valued at $34,621,000 after buying an additional 1,108,850 shares during the period. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CIFR has been the subject of several recent analyst reports. Needham & Company LLC dropped their price objective on shares of Cipher Mining to $22.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Citigroup began coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They issued an “outperform” rating for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $27.00 price target on shares of Cipher Mining in a research note on Monday, December 15th. Finally, Citizens Jmp set a $30.00 price target on shares of Cipher Mining in a report on Wednesday, November 19th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.32.

Cipher Mining Price Performance

CIFR opened at $14.08 on Friday. The business has a fifty day moving average of $16.27 and a 200 day moving average of $15.86. The stock has a market cap of $5.70 billion, a P/E ratio of -6.52 and a beta of 2.96. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 3.37. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $25.52.

Insider Transactions at Cipher Mining

In other news, Director Wesley Hastie Williams sold 49,867 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $16.08, for a total value of $801,861.36. Following the transaction, the director directly owned 158,145 shares in the company, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James E. Newsome sold 45,161 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.74, for a total transaction of $710,834.14. Following the completion of the transaction, the director directly owned 127,331 shares in the company, valued at $2,004,189.94. This represents a 26.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 187,986 shares of company stock worth $3,030,554. 2.63% of the stock is currently owned by insiders.

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.