Handelsbanken Fonder AB Increases Position in Cipher Mining Inc. $CIFR

Handelsbanken Fonder AB increased its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 59.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,600 shares of the company’s stock after acquiring an additional 39,700 shares during the period. Handelsbanken Fonder AB’s holdings in Cipher Mining were worth $2,612,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Cipher Mining in the fourth quarter valued at $25,000. Arax Advisory Partners raised its stake in Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after buying an additional 1,338 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cipher Mining in the 4th quarter valued at about $28,000. Danske Bank A S boosted its holdings in Cipher Mining by 1,150.0% in the fourth quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after purchasing an additional 2,300 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after buying an additional 804 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CIFR has been the subject of several research analyst reports. Jefferies Financial Group assumed coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of Cipher Mining in a research note on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Wednesday, June 24th. Citigroup reiterated a “market outperform” rating on shares of Cipher Mining in a research report on Monday, August 10th. Finally, Morgan Stanley set a $43.50 target price on shares of Cipher Mining in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cipher Mining has a consensus rating of “Moderate Buy” and a consensus target price of $28.61.

Insider Activity at Cipher Mining

In other Cipher Mining news, Director James E. Newsome sold 3,758 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.60, for a total value of $99,962.80. Following the sale, the director owned 128,530 shares of the company’s stock, valued at approximately $3,418,898. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cary M. Grossman sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $29.43, for a total value of $441,450.00. Following the completion of the transaction, the director owned 143,829 shares of the company’s stock, valued at approximately $4,232,887.47. This represents a 9.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,145,825 shares of company stock valued at $81,741,167 in the last 90 days. 3.09% of the stock is owned by corporate insiders.

Cipher Mining Price Performance

CIFR stock opened at $17.85 on Monday. The firm has a 50 day moving average of $22.18 and a 200-day moving average of $19.12. The company has a market cap of $7.41 billion, a price-to-earnings ratio of -6.24 and a beta of 3.20. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 9.69. Cipher Mining Inc. has a 12-month low of $5.00 and a 12-month high of $30.14.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.40). Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%.The firm had revenue of $24.84 million during the quarter, compared to analyst estimates of $31.86 million. During the same quarter in the prior year, the company earned ($0.12) EPS. As a group, equities analysts expect that Cipher Mining Inc. will post -1.37 EPS 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.