Dockside LLC Takes $581,000 Position in Cipher Mining Inc. $CIFR

Dockside LLC acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 39,392 shares of the company’s stock, valued at approximately $581,000.

Several other hedge funds also recently modified their holdings of CIFR. Vanguard Group Inc. increased its stake in shares of Cipher Mining by 43.2% in the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after acquiring an additional 9,865,533 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Cipher Mining in the 3rd quarter valued at $70,524,000. Value Aligned Research Advisors LLC acquired a new stake in Cipher Mining in the 3rd quarter valued at $64,266,000. Situational Awareness LP grew its position in Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after purchasing an additional 4,728,600 shares during the period. Finally, Millennium Management LLC acquired a new stake in Cipher Mining in the 1st quarter valued at $9,316,000. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $24.50 on Monday. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The company has a market cap of $10.02 billion, a P/E ratio of -10.52 and a beta of 3.18. The company has a fifty day simple moving average of $20.09 and a 200 day simple moving average of $17.59. Cipher Mining Inc. has a 12-month low of $3.29 and a 12-month high of $28.62.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. Sell-side analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CIFR has been the subject of several research reports. BTIG Research reissued a “buy” rating and issued a $25.00 price target on shares of Cipher Mining in a research report on Wednesday, May 6th. Needham & Company LLC lifted their price target on shares of Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 15th. HC Wainwright lifted their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.69.

Insider Activity

In other Cipher Mining news, COO Patrick Arthur Kelly sold 48,000 shares of Cipher Mining stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total transaction of $929,280.00. Following the transaction, the chief operating officer directly owned 1,451,856 shares of the company’s stock, valued at $28,107,932.16. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tyler Page sold 37,500 shares of Cipher Mining stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $16.11, for a total transaction of $604,125.00. Following the transaction, the chief executive officer directly owned 8,263,862 shares in the company, valued at $133,130,816.82. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,178,236 shares of company stock worth $81,848,926. Company insiders own 2.63% of the company’s stock.

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.