RFG Advisory LLC Acquires New Shares in Cipher Mining Inc. $CIFR

RFG Advisory LLC bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the 1st quarter, Holdings Channel reports. The fund bought 21,874 shares of the company’s stock, valued at approximately $282,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in shares of Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after acquiring an additional 804 shares during the last quarter. Prospera Financial Services Inc increased its stake in Cipher Mining by 6.7% in the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock valued at $230,000 after purchasing an additional 980 shares in the last quarter. GAMMA Investing LLC increased its stake in Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after purchasing an additional 1,286 shares in the last quarter. Arax Advisory Partners raised its holdings in 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 purchasing an additional 1,338 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Cipher Mining by 26.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock worth $104,000 after purchasing an additional 1,468 shares during the period. Institutional investors own 12.26% of the company’s stock.

Insider Buying and Selling at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 48,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total transaction of $929,280.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $47,916,000.00. Following the completion of the sale, the insider directly owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. This represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,132,836 shares of company stock valued at $81,420,063 in the last 90 days. 2.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CIFR shares. Sanford C. Bernstein assumed coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research note on Wednesday, June 24th. HC Wainwright lifted their target price on Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Cantor Fitzgerald decreased their target price on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods increased their price target on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.31.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $24.50 on Wednesday. The company has a fifty day moving average price of $22.64 and a 200 day moving average price of $18.23. The firm has a market cap of $10.02 billion, a PE ratio of -10.52 and a beta of 3.18. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 1-year low of $4.55 and a 1-year high of $30.14.

Cipher Mining (NASDAQ:CIFR) last released its quarterly 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 analyst estimates of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. Cipher Mining’s revenue for the quarter was down 28.8% on a year-over-year basis. Research analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal 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.