Federated Hermes Inc. Raises Position in Cipher Mining Inc. $CIFR

Federated Hermes Inc. boosted its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 20,172.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,227 shares of the company’s stock after purchasing an additional 120,629 shares during the period. Federated Hermes Inc.’s holdings in Cipher Mining were worth $1,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Cipher Mining by 18.1% in the second quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company’s stock worth $34,621,000 after buying an additional 1,108,850 shares during the period. Tidal Investments LLC increased its holdings in Cipher Mining by 28.3% in the 2nd quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after acquiring an additional 1,541,138 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Cipher Mining by 52.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after acquiring an additional 1,610,073 shares during the period. Millennium Management LLC purchased a new position in Cipher Mining during the first quarter valued at approximately $9,316,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cipher Mining by 36.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,794,160 shares of the company’s stock worth $13,356,000 after purchasing an additional 747,317 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CIFR. Macquarie raised their price objective on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. HC Wainwright raised their price target on Cipher Mining to $30.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Northland Securities set a $27.50 price objective on Cipher Mining in a research report on Tuesday, November 4th. Finally, Rosenblatt Securities upped their price objective on Cipher Mining to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average price target of $24.54.

Insider Buying and Selling at Cipher Mining

In other news, COO Patrick Arthur Kelly sold 35,569 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $15.08, for a total transaction of $536,380.52. Following the sale, the chief operating officer directly owned 1,151,770 shares in the company, valued at approximately $17,368,691.60. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares of the company’s stock, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 271,023 shares of company stock valued at $4,442,255 over the last ninety days. Corporate insiders own 2.63% of the company’s stock.

Cipher Mining Stock Down 10.9%

Shares of CIFR opened at $12.70 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -70.56 and a beta of 2.95. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $25.52. The business’s 50 day simple moving average is $17.02 and its 200-day simple moving average is $14.03.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The company had revenue of $106.69 million for the quarter, compared to analysts’ expectations of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. As a group, equities analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

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.