Federated Hermes Inc. Purchases 120,629 Shares of Cipher Mining Inc. $CIFR

Federated Hermes Inc. boosted its position in Cipher Mining Inc. (NASDAQ:CIFR) by 20,172.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 121,227 shares of the company’s stock after acquiring an additional 120,629 shares during the period. Federated Hermes Inc.’s holdings in Cipher Mining were worth $1,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CIFR. Vanguard Personalized Indexing Management LLC raised its stake in shares of Cipher Mining by 10.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,247 shares of the company’s stock valued at $368,000 after purchasing an additional 2,659 shares during the period. Teacher Retirement System of Texas grew its holdings in Cipher Mining by 7.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 38,281 shares of the company’s stock valued at $183,000 after buying an additional 2,812 shares in the last quarter. Impact Partnership Wealth LLC increased its position in shares of Cipher Mining by 7.5% during the second quarter. Impact Partnership Wealth LLC now owns 51,128 shares of the company’s stock valued at $244,000 after buying an additional 3,573 shares during the period. Signal Advisors Wealth LLC increased its position in shares of Cipher Mining by 41.2% during the third quarter. Signal Advisors Wealth LLC now owns 14,122 shares of the company’s stock valued at $178,000 after buying an additional 4,122 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Cipher Mining by 10.2% in the third quarter. Truist Financial Corp now owns 55,100 shares of the company’s stock worth $694,000 after buying an additional 5,100 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CIFR. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $12.00 to $18.00 in a research note on Monday, November 24th. Citizens Jmp began coverage on Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 price target for the company. BTIG Research reissued a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a report on Wednesday, November 5th. JMP Securities set a $30.00 price objective on shares of Cipher Mining in a research report on Wednesday, November 19th. Finally, HC Wainwright lifted their target price on shares of Cipher Mining to $30.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.54.

Cipher Mining Stock Performance

Cipher Mining stock opened at $12.70 on Friday. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $25.52. The firm has a market cap of $5.02 billion, a P/E ratio of -70.56 and a beta of 2.95. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average of $17.02 and a 200-day moving average of $14.03.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. The business had revenue of $106.69 million during the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. Sell-side analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling at Cipher Mining

In related news, Director Wesley Hastie Williams sold 49,867 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares of the company’s stock, valued at $2,542,971.60. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cary M. Grossman sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total transaction of $475,000.00. Following the sale, the director owned 200,530 shares of the company’s stock, valued at approximately $3,810,070. This represents a 11.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 271,023 shares of company stock valued at $4,442,255. 2.63% of the stock is currently owned by company 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.