Caitong International Asset Management Co. Ltd Grows Stock Holdings in Cipher Mining Inc. $CIFR

Caitong International Asset Management Co. Ltd raised its position in Cipher Mining Inc. (NASDAQ:CIFR) by 63.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,179 shares of the company’s stock after acquiring an additional 39,342 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Cipher Mining were worth $1,493,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Cipher Mining during the 4th quarter worth $25,000. Arax Advisory Partners increased its stake in shares of Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after purchasing an additional 1,338 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after purchasing an additional 1,286 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Cipher Mining in the 4th quarter worth $28,000. Finally, Danske Bank A S raised its holdings in Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock worth $37,000 after purchasing an additional 2,300 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Cary M. Grossman sold 30,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $14.54, for a total value of $436,200.00. Following the completion of the sale, the director directly owned 170,530 shares in the company, valued at $2,479,506.20. This represents a 14.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Arthur Kelly sold 48,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the transaction, the chief operating officer owned 1,451,856 shares of the company’s stock, valued at approximately $28,107,932.16. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,185,336 shares of company stock worth $82,018,938 over the last three months. Corporate insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Cipher Mining in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price objective for the company. Cantor Fitzgerald lowered their target price on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Keefe, Bruyette & Woods increased their price target on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Needham & Company LLC raised their price target on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Morgan Stanley decreased their price target on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.69.

Cipher Mining Stock Performance

Shares of Cipher Mining stock opened at $29.13 on Friday. The stock’s fifty day moving average is $21.46 and its two-hundred day moving average is $17.90. The company has a market capitalization of $11.92 billion, a PE ratio of -12.50 and a beta of 3.18. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 52 week low of $3.29 and a 52 week high of $30.01.

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