Creek Drive Management Group LLC Makes New $460,000 Investment in Cipher Mining Inc. $CIFR

Creek Drive Management Group LLC purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 31,187 shares of the company’s stock, valued at approximately $460,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Cipher Mining by 43.2% during the 4th 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 last quarter. Situational Awareness LP raised its position in shares of Cipher Mining by 82.4% during the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after buying an additional 4,728,600 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cipher Mining by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after buying an additional 558,105 shares during the last quarter. State Street Corp lifted 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 valued at $119,238,000 after buying an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC grew its position in Cipher Mining by 45.9% during the fourth quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock worth $109,925,000 after buying an additional 2,342,958 shares in the last quarter. 12.26% of the stock is owned by institutional investors.

Insider Activity at Cipher Mining

In other news, COO Patrick Arthur Kelly sold 48,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the completion of the sale, the chief operating officer directly owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Cary M. Grossman sold 20,000 shares of Cipher Mining stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total value of $436,400.00. Following the completion of the transaction, the director directly owned 150,530 shares of the company’s stock, valued at $3,284,564.60. This represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,185,336 shares of company stock valued at $82,018,938. 2.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CIFR shares. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. 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 note on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price for the company. Finally, Jefferies Financial Group started coverage on Cipher Mining in a research report on Thursday, May 14th. They issued a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and an average target price of $27.69.

Cipher Mining Stock Down 0.2%

Shares of CIFR opened at $29.13 on Friday. The business’s 50 day simple moving average is $21.46 and its 200-day simple moving average is $17.90. Cipher Mining Inc. has a one year low of $3.29 and a one year high of $30.01. The company has a market capitalization of $11.92 billion, a P/E ratio of -12.50 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The business 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% on a year-over-year basis. As a group, sell-side analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

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.