Cipher Mining Inc. $CIFR Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 46.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,971 shares of the company’s stock after purchasing an additional 37,680 shares during the period. Intech Investment Management LLC’s holdings in Cipher Mining were worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC acquired a new position in Cipher Mining during the 4th quarter worth approximately $667,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in Cipher Mining during the 4th quarter worth approximately $461,000. Geode Capital Management LLC increased its position in Cipher Mining by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock worth $120,519,000 after purchasing an additional 558,105 shares during the period. Legal & General Group Plc increased its position in Cipher Mining by 11.1% during the 4th quarter. Legal & General Group Plc now owns 330,508 shares of the company’s stock worth $4,878,000 after purchasing an additional 32,944 shares during the period. Finally, Prospera Financial Services Inc increased its position in Cipher Mining by 6.7% during the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock worth $230,000 after purchasing an additional 980 shares during the period. Institutional investors and hedge funds own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

CIFR has been the topic of several recent analyst reports. HC Wainwright boosted their target price on Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald dropped their target price on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Needham & Company LLC raised their price objective on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, May 6th. Finally, Morgan Stanley dropped their price objective on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research note on Thursday. Sixteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.69.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $25.55 on Friday. Cipher Mining Inc. has a 1-year low of $3.29 and a 1-year high of $28.62. The company has a market capitalization of $10.45 billion, a P/E ratio of -10.97 and a beta of 3.18. The business has a 50 day moving average price of $18.96 and a 200 day moving average price of $17.25. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $36.12 million. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. Sell-side analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insider Transactions at Cipher Mining

In other Cipher Mining news, Director Cary M. Grossman sold 30,000 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $14.54, for a total transaction of $436,200.00. Following the sale, the director owned 170,530 shares in the company, valued at approximately $2,479,506.20. This represents a 14.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total value of $47,916,000.00. Following the sale, the insider owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. This trade represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,013,804 shares of company stock worth $51,793,735 over the last ninety days. 2.63% of the stock is currently owned by corporate insiders.

Cipher Mining 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.