Cipher Mining Inc. $CIFR Stake Lessened by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 1.8% during the 1st quarter, HoldingsChannel reports. The fund owned 4,351,360 shares of the company’s stock after selling 79,675 shares during the period. Dimensional Fund Advisors LP’s holdings in Cipher Mining were worth $55,974,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CIFR. Swiss National Bank raised its stake in Cipher Mining by 0.4% during the first quarter. Swiss National Bank now owns 622,900 shares of the company’s stock worth $8,017,000 after acquiring an additional 2,600 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Cipher Mining by 48.7% during the 1st quarter. Jennison Associates LLC now owns 2,519,281 shares of the company’s stock valued at $32,423,000 after purchasing an additional 824,618 shares in the last quarter. Kera Capital Partners Inc. boosted its stake in shares of Cipher Mining by 32.5% during the 1st quarter. Kera Capital Partners Inc. now owns 16,286 shares of the company’s stock worth $210,000 after buying an additional 3,997 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in Cipher Mining during the 1st quarter valued at $143,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Cipher Mining during the first quarter worth approximately $1,463,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Wesley Hastie Williams sold 14,567 shares of the firm’s stock in a transaction on 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 transaction, the director owned 115,409 shares in the company, valued at $2,470,906.69. This trade represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tyler Page sold 112,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the completion of the transaction, the chief executive officer owned 9,084,225 shares in the company, valued at $192,494,727.75. The trade was a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,245,336 shares of company stock valued at $83,803,938 in the last quarter. Insiders own 2.63% of the company’s stock.

Cipher Mining Trading Down 1.5%

Shares of NASDAQ:CIFR opened at $22.32 on Friday. Cipher Mining Inc. has a 1 year low of $4.55 and a 1 year high of $30.14. The business’s 50 day moving average price is $23.34 and its 200-day moving average price is $19.07. 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 $9.13 billion, a price-to-earnings ratio of -9.58 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share 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 analysts’ expectations of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.Cipher Mining’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, equities research analysts forecast that Cipher Mining Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CIFR has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Cipher Mining from $48.50 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, July 20th. BTIG Research raised their price objective on shares of Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. Chardan Capital assumed coverage on Cipher Mining in a research note on Monday, July 27th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Jefferies Financial Group started coverage on Cipher Mining in a research note on Thursday, May 14th. They set a “buy” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and an average price target of $28.74.

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.