HighTower Advisors LLC Raises Stock Position in Cipher Mining Inc. $CIFR

HighTower Advisors LLC lifted its position in Cipher Mining Inc. (NASDAQ:CIFR) by 16.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 671,775 shares of the company’s stock after buying an additional 95,686 shares during the period. HighTower Advisors LLC’s holdings in Cipher Mining were worth $9,915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its position in shares of Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after buying an additional 804 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cipher Mining by 26.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock worth $104,000 after buying an additional 1,468 shares during the last quarter. DKM Wealth Management Inc. grew its position in shares of Cipher Mining by 15.1% in the 4th quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock worth $212,000 after buying an additional 1,886 shares during the last quarter. Finally, Sherman Asset Management Inc. purchased a new position in shares of Cipher Mining in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director Wesley Hastie Williams sold 14,567 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $21.41, for a total transaction of $311,879.47. Following the sale, the director owned 115,409 shares of the company’s stock, valued at approximately $2,470,906.69. The trade was a 11.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tyler Page sold 37,500 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total transaction of $604,125.00. Following the completion of the sale, the chief executive officer directly owned 8,263,862 shares in the company, valued at $133,130,816.82. This trade represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 258,965 shares of company stock worth $4,588,569 in the last 90 days. 2.63% of the stock is owned by insiders.

Cipher Mining Price Performance

NASDAQ:CIFR opened at $21.97 on Tuesday. The company has a market cap of $8.99 billion, a PE ratio of -9.43 and a beta of 3.13. Cipher Mining Inc. has a twelve month low of $3.08 and a twelve month high of $25.52. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The company’s 50 day moving average is $17.34 and its two-hundred day moving average is $16.92.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The company had revenue of $34.84 million for 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% on a year-over-year basis. Analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

CIFR has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. Rosenblatt Securities lifted their price objective on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. HC Wainwright lifted their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group assumed coverage on shares of Cipher Mining in a research report on Thursday, May 14th. They issued a “buy” rating and a $32.00 price objective on the stock. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.00.

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.