Chicago Partners Investment Group LLC Buys New Holdings in Cipher Mining Inc. $CIFR

Chicago Partners Investment Group LLC acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the first quarter, HoldingsChannel.com reports. The fund acquired 25,068 shares of the company’s stock, valued at approximately $323,000.

Several other hedge funds and other institutional investors have also modified their holdings of CIFR. Vanguard Group Inc. grew its holdings in Cipher Mining by 43.2% in the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after buying an additional 9,865,533 shares in the last quarter. Situational Awareness LP lifted its holdings in shares of Cipher Mining by 82.4% during the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after acquiring an additional 4,728,600 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cipher Mining by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after purchasing an additional 558,105 shares in the last quarter. State Street Corp boosted its stake in Cipher Mining by 10.2% in the fourth quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after buying an additional 745,030 shares in the last quarter. Finally, Value Aligned Research Advisors LLC grew its holdings in shares of Cipher Mining by 45.9% during the 4th quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock valued at $109,925,000 after purchasing an additional 2,342,958 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $20.54 on Tuesday. The company has a fifty day moving average price of $23.02 and a 200-day moving average price of $18.71. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of -8.82 and a beta of 3.18. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. Cipher Mining Inc. has a 1 year low of $4.55 and a 1 year high of $30.14.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The firm had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, equities research analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insider Transactions at Cipher Mining

In other news, Director Wesley Hastie Williams sold 14,567 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 115,409 shares in the company, valued at $2,470,906.69. The trade was a 11.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cary M. Grossman sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following the completion of the transaction, the director owned 143,829 shares in the company, valued at $4,232,887.47. The trade was a 9.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,245,336 shares of company stock worth $83,803,938. Company insiders own 2.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CIFR. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Sanford C. Bernstein assumed coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price on the stock. Cantor Fitzgerald cut their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods raised their target price on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, HC Wainwright boosted their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.22.

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.