Azora Capital LP Purchases New Shares in Cipher Mining Inc. $CIFR

Azora Capital LP purchased a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, Holdings Channel.com reports. The fund purchased 890,561 shares of the company’s stock, valued at approximately $13,145,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CIFR. Vanguard Group Inc. increased its holdings 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 in the last quarter. Voloridge Investment Management LLC acquired a new stake in Cipher Mining during the 3rd quarter valued at $70,524,000. Value Aligned Research Advisors LLC acquired a new stake in Cipher Mining during the 3rd quarter valued at $64,266,000. Situational Awareness LP increased its holdings in Cipher Mining by 82.4% during the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after purchasing an additional 4,728,600 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Cipher Mining during the 1st quarter valued at $9,316,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction, the chief operating officer directly owned 1,451,856 shares in the company, valued at $28,107,932.16. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total value of $47,916,000.00. Following the completion of the transaction, the insider owned 59,516,694 shares in the company, valued at $1,584,334,394.28. This represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,178,236 shares of company stock worth $81,848,926 over the last three months. Insiders own 2.63% of the company’s stock.

Cipher Mining Stock Up 0.5%

NASDAQ:CIFR opened at $26.35 on Thursday. Cipher Mining Inc. has a 12-month low of $3.29 and a 12-month high of $28.62. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. The firm has a market capitalization of $10.78 billion, a P/E ratio of -11.31 and a beta of 3.18. The stock’s fifty day simple moving average is $20.89 and its 200-day simple moving average is $17.75.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results 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). 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 during the quarter, compared to the consensus estimate of $36.12 million. The business’s quarterly revenue was down 28.8% on a year-over-year basis. Equities research analysts expect that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

CIFR has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Jefferies Financial Group initiated coverage on Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 target price for the company. Rosenblatt Securities lifted their target price on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley lowered their target price on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Finally, Needham & Company LLC lifted their target price on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.69.

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.