105,572 Shares in Cipher Mining Inc. $CIFR Acquired by Purpose Unlimited Inc.

Key Points

• Purpose Unlimited Inc. disclosed a new fourth-quarter stake in Cipher Mining, buying 105,572 shares valued at about $1.56 million. Several other institutional investors also added to or started positions in the stock.
• Wall Street sentiment remains broadly positive on CIFR, with multiple analysts raising price targets. The stock’s consensus rating is Moderate Buy, and the average price target is $27.69.
• Cipher Mining posted a quarterly loss and missed revenue expectations, with EPS of ($0.28) versus the expected ($0.27) and revenue of $34.84 million. Despite that, the stock recently traded near its 52-week high at $29.13.

Purpose Unlimited Inc. acquired a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 105,572 shares of the company's stock, valued at approximately $1,558,000.

A number of other large investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Cipher Mining in the fourth quarter worth $25,000. Arax Advisory Partners increased its holdings in shares of Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock valued at $27,000 after acquiring an additional 1,338 shares in the last quarter. GAMMA Investing LLC raised its position 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 worth $28,000 after purchasing an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Cipher Mining in the 4th quarter worth about $28,000. Finally, Danske Bank A S boosted its stake 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 purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CIFR shares. Keefe, Bruyette & Woods raised their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Needham & Company LLC upped 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. Wall Street Zen cut shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a report on Sunday, March 1st. Sanford C. Bernstein started coverage on shares of Cipher Mining in a research report on Wednesday, June 3rd. They set an "outperform" rating and a $32.00 price target for the company. Finally, Rosenblatt Securities raised their price target on shares of Cipher Mining from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $27.69.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $29.13 on Friday. The firm's 50-day moving average price is $21.46 and its 200-day moving average price is $17.90. Cipher Mining Inc. has a 52-week low of $3.29 and a 52-week high of $30.01. The company has a market cap of $11.92 billion, a PE ratio of -12.50 and a beta of 3.18. 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 (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The company had revenue of $34.84 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. As a group, analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current year.

Insider Buying and Selling

In other Cipher Mining news, Director Cary M. Grossman sold 20,000 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total transaction of $436,400.00. Following the completion of the sale, the director directly owned 150,530 shares in the company, valued at approximately $3,284,564.60. The trade was a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Newsome sold 3,758 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total value of $99,962.80. Following the transaction, the director directly owned 128,530 shares in the company, valued at $3,418,898. The trade was a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,185,336 shares of company stock valued at $82,018,938 in the last ninety days. Corporate insiders own 2.63% of the company's stock.

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.

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