RFG Advisory LLC Acquires Shares of 21,874 Cipher Mining Inc. $CIFR

RFG Advisory LLC bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,874 shares of the company’s stock, valued at approximately $282,000.

Several other large investors have also made changes to their positions in CIFR. Millennium Management LLC bought a new stake in Cipher Mining during the first quarter worth about $9,316,000. Goldman Sachs Group Inc. boosted its holdings in shares of Cipher Mining by 52.4% in the 1st 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 in the last quarter. Franklin Resources Inc. acquired a new position in shares of Cipher Mining in the 2nd quarter worth approximately $98,000. Prudential Financial Inc. grew its position in Cipher Mining by 113.7% during the 2nd quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock worth $151,000 after acquiring an additional 16,810 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Cipher Mining by 65.2% during the 2nd quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock worth $142,000 after acquiring an additional 11,725 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

CIFR stock opened at $24.50 on Wednesday. The company has a 50 day moving average price of $22.64 and a 200 day moving average price of $18.23. Cipher Mining Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $30.14. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The stock has a market capitalization of $10.02 billion, a PE ratio of -10.52 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) EPS 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 during the quarter, compared to the consensus estimate of $36.12 million. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. Analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Analysts Set New Price Targets

CIFR has been the subject of several research analyst reports. Zacks Research upgraded Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Needham & Company LLC increased their target price on Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 15th. BTIG Research raised their target price on Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $30.00 price target on shares of Cipher Mining in a report on Thursday, June 25th. Finally, Sanford C. Bernstein initiated coverage on Cipher Mining in a report on Wednesday, June 3rd. They issued 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 issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.31.

Insider Transactions at Cipher Mining

In other news, major shareholder Holding Ltd V3 sold 1,200,000 shares of Cipher Mining stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the completion of the sale, the insider owned 58,316,694 shares in the company, valued at $1,486,492,530.06. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick Arthur Kelly sold 48,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total transaction of $929,280.00. Following the sale, the chief operating officer directly owned 1,451,856 shares of the company’s stock, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,132,836 shares of company stock valued at $81,420,063. 2.63% of the stock is currently owned by insiders.

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.