Intech Investment Management LLC Grows Stock Position in Cipher Mining Inc. $CIFR

Intech Investment Management LLC lifted its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 46.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,971 shares of the company’s stock after purchasing an additional 37,680 shares during the period. Intech Investment Management LLC’s holdings in Cipher Mining were worth $1,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after purchasing an additional 9,865,533 shares during the period. Geode Capital Management LLC boosted its holdings in Cipher Mining by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after purchasing an additional 558,105 shares during the period. Tidal Investments LLC boosted its holdings in Cipher Mining by 28.3% in the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock valued at $33,386,000 after purchasing an additional 1,541,138 shares during the period. Invesco Ltd. boosted its holdings in Cipher Mining by 40.0% in the third quarter. Invesco Ltd. now owns 6,852,074 shares of the company’s stock valued at $86,268,000 after purchasing an additional 1,958,385 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Cipher Mining by 64.9% in the third quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company’s stock valued at $84,937,000 after purchasing an additional 2,655,015 shares during the period. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $25.55 on Friday. The company’s fifty day moving average price is $18.96 and its 200 day moving average price is $17.25. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $28.62. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The firm has a market capitalization of $10.45 billion, a P/E ratio of -10.97 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 company had revenue of $34.84 million for the quarter, compared to analyst estimates of $36.12 million. The company’s quarterly revenue was down 28.8% on a year-over-year basis. As a group, sell-side analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Wesley Hastie Williams sold 14,567 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $21.41, for a total value of $311,879.47. Following the completion of the sale, the director directly 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 accessible through this link. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total value of $47,916,000.00. Following the completion of the sale, the insider directly owned 59,516,694 shares of the company’s stock, valued at $1,584,334,394.28. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,013,804 shares of company stock worth $51,793,735. Corporate insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CIFR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Morgan Stanley decreased their price target on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a report on Thursday. Cantor Fitzgerald decreased their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Sanford C. Bernstein began coverage on Cipher Mining in a report on Wednesday. They set an “outperform” rating and a $32.00 price target for the company. Finally, Wall Street Zen downgraded Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.