Geode Capital Management LLC Has $120.52 Million Position in Cipher Mining Inc. $CIFR

Geode Capital Management LLC increased its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,164,226 shares of the company’s stock after purchasing an additional 558,105 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of Cipher Mining worth $120,519,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Sherman Asset Management Inc. bought a new position in Cipher Mining during the third quarter valued at approximately $25,000. GAMMA Investing LLC raised its position in shares of Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after purchasing an additional 1,286 shares during the period. Danske Bank A S raised its position in shares of Cipher Mining by 1,150.0% in the fourth quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after purchasing an additional 2,300 shares during the period. CWM LLC raised its position in shares of Cipher Mining by 43.3% in the fourth quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Cipher Mining by 663.0% in the third quarter. Parallel Advisors LLC now owns 4,166 shares of the company’s stock valued at $52,000 after purchasing an additional 3,620 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 1,800,000 shares of Cipher Mining stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total transaction of $47,916,000.00. Following the sale, the insider owned 59,516,694 shares in the company, valued at $1,584,334,394.28. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cary M. Grossman sold 20,000 shares of Cipher Mining stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $21.82, for a total transaction of $436,400.00. Following the sale, the director owned 150,530 shares in the company, valued at $3,284,564.60. This represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,013,804 shares of company stock valued at $51,793,735. 2.63% of the stock is owned by insiders.

Cipher Mining Trading Down 12.1%

Shares of CIFR stock opened at $22.45 on Friday. Cipher Mining Inc. has a 1 year low of $3.29 and a 1 year high of $28.62. The firm’s fifty day simple moving average is $19.10 and its 200 day simple moving average is $17.29. The firm has a market capitalization of $9.18 billion, a P/E ratio of -9.64 and a beta of 3.18. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13.

Cipher Mining (NASDAQ:CIFR) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $36.12 million. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on CIFR shares. Sanford C. Bernstein started coverage on shares of Cipher Mining in a research report on Wednesday. They issued an “outperform” rating and a $32.00 price target on the stock. Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. HC Wainwright lifted their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Finally, Morgan Stanley dropped their price target on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently 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.