Alight Capital Management LP Raises Stake in Cipher Mining Inc. $CIFR

Alight Capital Management LP boosted its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 60.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 320,000 shares of the company’s stock after buying an additional 120,000 shares during the quarter. Alight Capital Management LP owned approximately 0.08% of Cipher Mining worth $4,029,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Sherman Asset Management Inc. bought a new position in shares of Cipher Mining during the 3rd quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cipher Mining by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,138 shares of the company’s stock worth $795,000 after purchasing an additional 2,133 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of Cipher Mining in the 3rd quarter worth approximately $31,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Cipher Mining by 10.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,247 shares of the company’s stock worth $368,000 after purchasing an additional 2,659 shares during the period. Finally, Arizona State Retirement System lifted its stake in Cipher Mining by 4.4% in the third quarter. Arizona State Retirement System now owns 76,841 shares of the company’s stock valued at $967,000 after purchasing an additional 3,206 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 2.7%

NASDAQ:CIFR opened at $14.08 on Friday. The company has a market cap of $5.70 billion, a P/E ratio of -6.52 and a beta of 2.96. The stock’s fifty day moving average price is $16.27 and its two-hundred day moving average price is $15.86. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $25.52. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.79 and a quick ratio of 3.79.

Insider Activity

In related news, Director Wesley Hastie Williams sold 49,867 shares of the business’s stock in a transaction 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 sale, the director directly owned 158,145 shares in the company, valued at approximately $2,542,971.60. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Newsome sold 45,161 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.74, for a total value of $710,834.14. Following the sale, the director directly owned 127,331 shares in the company, valued at $2,004,189.94. This trade represents a 26.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 187,986 shares of company stock worth $3,030,554. 2.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on CIFR shares. HC Wainwright reduced their price objective on Cipher Mining to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Citigroup began coverage on Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating on the stock. Morgan Stanley initiated coverage on Cipher Mining in a research report on Monday, February 9th. They set an “overweight” rating and a $38.00 price target on the stock. Zacks Research downgraded Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company set a $18.00 price objective on Cipher Mining in a report on Monday, November 24th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.32.

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.