31,187 Shares in Cipher Mining Inc. $CIFR Acquired by Creek Drive Management Group LLC

Creek Drive Management Group LLC acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 31,187 shares of the company’s stock, valued at approximately $460,000.

A number of other hedge funds have also recently bought and sold shares of the company. 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 buying an additional 9,865,533 shares during the period. Situational Awareness LP lifted its stake in shares of Cipher Mining by 82.4% during the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after acquiring an additional 4,728,600 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cipher Mining by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after acquiring an additional 558,105 shares during the period. State Street Corp lifted its stake in shares of Cipher Mining by 10.2% during the fourth quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after acquiring an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC boosted its holdings in Cipher Mining by 45.9% in the fourth quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock valued at $109,925,000 after acquiring an additional 2,342,958 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors.

Insider Transactions at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 48,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer directly owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of Cipher Mining stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total transaction of $47,916,000.00. Following the completion of the transaction, the insider directly owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. The trade was a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,185,336 shares of company stock valued at $82,018,938. Insiders own 2.63% of the company’s stock.

Cipher Mining Trading Down 0.2%

CIFR opened at $29.13 on Friday. The firm’s fifty day moving average is $21.46 and its two-hundred day moving average is $17.90. The firm has a market cap of $11.92 billion, a PE ratio of -12.50 and a beta of 3.18. Cipher Mining Inc. has a twelve month low of $3.29 and a twelve month high of $30.01. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13.

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. Equities research analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on Cipher Mining in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price objective for the company. HC Wainwright upped their target price 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. Rosenblatt Securities raised their target price on shares of Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.69.

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.