First Trust Advisors LP Grows Holdings in Cipher Mining Inc. $CIFR

First Trust Advisors LP boosted its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 27.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 783,684 shares of the company’s stock after acquiring an additional 171,051 shares during the period. First Trust Advisors LP owned 0.19% of Cipher Mining worth $10,086,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in shares of Cipher Mining during the 4th quarter valued at $25,000. Arax Advisory Partners boosted its holdings in Cipher Mining by 274.2% in the 4th 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 period. Meeder Asset Management Inc. bought a new position in Cipher Mining in the 4th quarter worth $28,000. Danske Bank A S boosted its holdings in Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock worth $37,000 after buying an additional 2,300 shares during the period. Finally, CWM LLC increased its stake in Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after buying an additional 804 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Insider Buying and Selling at Cipher Mining

In other news, major shareholder Holding Ltd V3 sold 1,200,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the sale, the insider directly owned 58,316,694 shares of the company’s stock, valued at $1,486,492,530.06. This represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley Hastie Williams sold 14,567 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $21.41, for a total transaction of $311,879.47. Following the completion of the transaction, the director directly owned 115,409 shares of the company’s stock, valued at approximately $2,470,906.69. This trade represents a 11.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,245,336 shares of company stock worth $83,803,938. Company insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CIFR shares. Chardan Capital started coverage on Cipher Mining in a research report on Monday, July 27th. They issued a “buy” rating and a $32.00 price objective on the stock. Cantor Fitzgerald decreased their target price on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Morgan Stanley lowered their price target on Cipher Mining from $48.50 to $47.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. Keefe, Bruyette & Woods upped their price target on Cipher Mining from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Sanford C. Bernstein began coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.74.

Cipher Mining Stock Down 1.5%

CIFR opened at $22.32 on Friday. The company has a market capitalization of $9.13 billion, a PE ratio of -9.58 and a beta of 3.18. The firm has a 50-day simple moving average of $23.34 and a two-hundred day simple moving average of $19.07. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 52 week low of $4.55 and a 52 week high of $30.14.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 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% compared to the same quarter last year. Analysts forecast that Cipher Mining Inc. will post -0.84 earnings per share for the current fiscal year.

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.