Dockside LLC Acquires New Holdings in Cipher Mining Inc. $CIFR

Dockside LLC acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 39,392 shares of the company’s stock, valued at approximately $581,000.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised 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 during the last quarter. Situational Awareness LP raised its holdings in Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after buying an additional 4,728,600 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 buying an additional 558,105 shares during the last quarter. State Street Corp raised its holdings in Cipher Mining by 10.2% in the 4th 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 during the last quarter. Finally, Tidal Investments LLC raised 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 valued at $33,386,000 after buying an additional 1,541,138 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Analyst Ratings Changes

CIFR has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Cantor Fitzgerald lowered their price target on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. HC Wainwright raised their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Sanford C. Bernstein started coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.69.

Cipher Mining Price Performance

Cipher Mining stock opened at $24.50 on Monday. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. Cipher Mining Inc. has a 52-week low of $3.29 and a 52-week high of $28.62. The firm has a 50 day moving average price of $20.09 and a two-hundred day moving average price of $17.59. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of -10.52 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last released 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 firm had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. Equities analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current year.

Insider Buying and Selling

In other news, COO Patrick Arthur Kelly sold 48,000 shares of Cipher Mining stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total value of $929,280.00. Following the completion of the sale, the chief operating officer owned 1,451,856 shares in the company, valued at $28,107,932.16. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Wesley Hastie Williams sold 14,567 shares of Cipher Mining stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $21.41, for a total transaction of $311,879.47. Following the completion of the sale, the director owned 115,409 shares of the company’s stock, valued at $2,470,906.69. This represents a 11.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,178,236 shares of company stock worth $81,848,926 over the last ninety days. 2.63% of the stock is owned by company insiders.

About Cipher Mining

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.