Wellington Management Group LLP Has $97.65 Million Stock Holdings in Cipher Mining Inc. $CIFR

Wellington Management Group LLP lifted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 567.1% during the second quarter, HoldingsChannel reports. The firm owned 3,985,806 shares of the company’s stock after buying an additional 3,388,359 shares during the quarter. Wellington Management Group LLP’s holdings in Cipher Mining were worth $97,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE raised its stake in Cipher Mining by 237.7% during the 1st quarter. Bank of America Corp DE now owns 1,414,667 shares of the company’s stock worth $18,207,000 after buying an additional 995,735 shares during the period. HighTower Advisors LLC grew its stake in Cipher Mining by 16.6% in the fourth quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock valued at $9,915,000 after acquiring an additional 95,686 shares during the period. Foundations Investment Advisors LLC bought a new stake in shares of Cipher Mining in the fourth quarter worth about $667,000. Purpose Unlimited Inc. bought a new stake in shares of Cipher Mining in the fourth quarter worth about $1,558,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Cipher Mining during the first quarter worth about $2,188,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Buying and Selling at Cipher Mining

In other news, major shareholder Holding Ltd V3 sold 1,200,000 shares of Cipher Mining stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total value of $30,588,000.00. Following the sale, the insider directly owned 58,316,694 shares in the company, valued at $1,486,492,530.06. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cary M. Grossman sold 15,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $29.43, for a total transaction of $441,450.00. Following the completion of the sale, the director directly owned 143,829 shares in the company, valued at approximately $4,232,887.47. This represents a 9.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,331,258 shares of company stock valued at $33,513,288 over the last ninety days. 3.09% of the stock is currently owned by company insiders.

Cipher Mining Stock Down 5.7%

NASDAQ:CIFR opened at $14.61 on Wednesday. The company has a debt-to-equity ratio of 9.69, a quick ratio of 3.00 and a current ratio of 3.00. The company has a market cap of $6.06 billion, a PE ratio of -5.11 and a beta of 3.16. Cipher Mining Inc. has a 52-week low of $7.08 and a 52-week high of $30.14. The stock has a 50-day simple moving average of $19.88 and a 200 day simple moving average of $19.10.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, August 4th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.40). Cipher Mining had a negative net margin of 585.75% and a negative return on equity of 156.28%. The firm had revenue of $24.84 million during the quarter, compared to the consensus estimate of $31.86 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, sell-side analysts expect that Cipher Mining Inc. will post -1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BTIG Research lifted their price objective on Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Sanford C. Bernstein began coverage on Cipher Mining in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a report on Wednesday, June 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price target on shares of Cipher Mining in a report on Wednesday, August 5th. Finally, Morgan Stanley set a $43.50 price objective on shares of Cipher Mining in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and an average target price of $28.61.

About Cipher Mining

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.