Alight Capital Management LP Sells 20,000 Shares of Cipher Mining Inc. $CIFR

Alight Capital Management LP decreased its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the company’s stock after selling 20,000 shares during the quarter. Alight Capital Management LP owned about 0.08% of Cipher Mining worth $4,428,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in shares of Cipher Mining in the first quarter worth $9,316,000. Goldman Sachs Group Inc. grew its holdings in shares of Cipher Mining by 52.4% in the first 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. Franklin Resources Inc. bought a new stake in shares of Cipher Mining in the second quarter worth $98,000. Prudential Financial Inc. grew its holdings in Cipher Mining by 113.7% during the second quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock valued at $151,000 after purchasing an additional 16,810 shares during the period. Finally, XTX Topco Ltd grew its holdings in Cipher Mining by 65.2% during the second quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock valued at $142,000 after purchasing an additional 11,725 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 0.5%

Shares of NASDAQ CIFR opened at $26.35 on Thursday. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The business’s 50 day moving average price is $20.89 and its 200-day moving average price is $17.75. Cipher Mining Inc. has a fifty-two week low of $3.29 and a fifty-two week high of $28.62. The company has a market cap of $10.78 billion, a price-to-earnings ratio of -11.31 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data 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 during 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. On average, sell-side analysts expect that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, May 6th. Jefferies Financial Group started coverage on Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald decreased their target price on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. One research 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 issued a Sell rating to the company. According to data from MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and an average target price of $27.69.

Insider Buying and Selling

In other Cipher Mining news, Director Cary M. Grossman sold 30,000 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.54, for a total transaction of $436,200.00. Following the sale, the director owned 170,530 shares of the company’s stock, valued at approximately $2,479,506.20. This trade represents a 14.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total value of $47,916,000.00. Following the sale, the insider directly owned 59,516,694 shares in the company, valued at $1,584,334,394.28. This trade represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,178,236 shares of company stock valued at $81,848,926 over the last 90 days. 2.63% of the stock is owned by 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.