Chicago Partners Investment Group LLC Takes $323,000 Position in Cipher Mining Inc. $CIFR

Chicago Partners Investment Group LLC purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,068 shares of the company’s stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Cipher Mining in the 4th quarter valued at about $25,000. Arax Advisory Partners lifted its position in shares of Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after buying an additional 1,338 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 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 during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining during the 4th quarter worth $28,000. Finally, Danske Bank A S boosted its holdings in Cipher Mining by 1,150.0% during the fourth quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Activity at Cipher Mining

In related news, Director Cary M. Grossman sold 15,000 shares of Cipher Mining stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $29.43, for a total value of $441,450.00. Following the sale, the director owned 143,829 shares of the company’s stock, valued at approximately $4,232,887.47. This trade represents a 9.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Newsome sold 3,758 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.60, for a total transaction of $99,962.80. Following the completion of the sale, the director directly owned 128,530 shares in the company, valued at approximately $3,418,898. This represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,245,336 shares of company stock valued at $83,803,938 over the last three months. Insiders own 2.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CIFR. Keefe, Bruyette & Woods increased their price objective on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. HC Wainwright upped their price objective on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald dropped their target price on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Morgan Stanley cut their price objective on Cipher Mining from $48.50 to $47.00 and set an “overweight” rating for the company in a research report on Monday. Finally, BTIG Research boosted their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus price target of $28.22.

Cipher Mining Stock Up 17.0%

Cipher Mining stock opened at $20.54 on Tuesday. Cipher Mining Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $30.14. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of -8.82 and a beta of 3.18. 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 company’s 50 day simple moving average is $23.02 and its 200 day simple moving average is $18.71.

Cipher Mining (NASDAQ:CIFR) last released 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). The firm had revenue of $34.84 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. As a group, sell-side analysts anticipate that Cipher Mining Inc. will post -0.8 EPS 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.