CastleKnight Management LP Has $8.55 Million Holdings in Cipher Mining Inc. $CIFR

CastleKnight Management LP cut its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 32.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 579,000 shares of the company’s stock after selling 278,700 shares during the period. CastleKnight Management LP’s holdings in Cipher Mining were worth $8,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $25,000. Arax Advisory Partners increased its position in shares of Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after purchasing an additional 1,338 shares during the period. GAMMA Investing LLC increased its position in shares of Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after purchasing an additional 1,286 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $28,000. Finally, Danske Bank A S increased its position in shares of Cipher Mining by 1,150.0% during the fourth quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after purchasing an additional 2,300 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Performance

Shares of NASDAQ:CIFR opened at $26.35 on Thursday. The business’s fifty day moving average price is $20.89 and its two-hundred day moving average price is $17.75. Cipher Mining Inc. has a fifty-two week low of $3.29 and a fifty-two week high of $28.62. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of -11.31 and a beta of 3.18. 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 (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The company had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. As a group, analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CIFR has been the topic of a number of research reports. Morgan Stanley lowered their price objective on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. Sanford C. Bernstein initiated coverage on Cipher Mining in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price target on the stock. Jefferies Financial Group initiated coverage on Cipher Mining in a research report on Thursday, May 14th. They issued a “buy” rating and a $32.00 price target on the stock. Rosenblatt Securities upped their price target on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen cut Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.69.

Insider Activity at Cipher Mining

In other news, CEO Tyler Page sold 37,500 shares of the stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $16.11, for a total transaction of $604,125.00. Following the sale, the chief executive officer owned 8,263,862 shares in the company, valued at approximately $133,130,816.82. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cary M. Grossman sold 20,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $21.82, for a total value of $436,400.00. Following the sale, the director owned 150,530 shares in the company, valued at $3,284,564.60. The trade was a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,178,236 shares of company stock valued at $81,848,926. 2.63% of the stock is currently owned by company insiders.

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.