Ionic Capital Management LLC Has $490,000 Stock Position in Cipher Mining Inc. $CIFR

Ionic Capital Management LLC reduced its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 58.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,200 shares of the company’s stock after selling 46,800 shares during the quarter. Ionic Capital Management LLC’s holdings in Cipher Mining were worth $490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Cipher Mining by 43.3% in the fourth quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after acquiring an additional 804 shares during the period. Prospera Financial Services Inc lifted its stake in shares of Cipher Mining by 6.7% in the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock worth $230,000 after acquiring an additional 980 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cipher Mining by 218.3% in the 4th 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 during the last quarter. Arax Advisory Partners boosted its stake in shares of Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Cipher Mining by 26.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock valued at $104,000 after purchasing an additional 1,468 shares during the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cipher Mining

In other Cipher Mining news, Director Wesley Hastie Williams sold 28,169 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total value of $627,041.94. Following the transaction, the director directly owned 129,976 shares of the company’s stock, valued at approximately $2,893,265.76. The trade was a 17.81% decrease in their ownership of the stock. The sale 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 the business’s 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 transaction, the insider directly owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. This trade represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,178,236 shares of company stock valued at $81,848,926. 2.63% of the stock is owned by insiders.

Cipher Mining Price Performance

Shares of CIFR opened at $26.35 on Thursday. Cipher Mining Inc. has a 52-week low of $3.29 and a 52-week high of $28.62. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The business’s 50 day moving average price is $20.89 and its two-hundred day moving average price is $17.75. The firm has a market cap of $10.78 billion, a PE ratio of -11.31 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last issued 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). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining’s revenue was down 28.8% compared to the same quarter last year. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CIFR. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Morgan Stanley lowered their target price on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research note on Thursday, June 4th. Rosenblatt Securities lifted their target price on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Needham & Company LLC lifted their target price on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Cantor Fitzgerald lowered their target price on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.