Moore Capital Management LP bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,431,698 shares of the company's stock, valued at approximately $35,077,000. Cipher Mining accounts for 0.5% of Moore Capital Management LP's holdings, making the stock its 28th largest position. Moore Capital Management LP owned 0.34% of Cipher Mining as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of CIFR. Vanguard Group Inc. raised its position in shares of Cipher Mining by 43.2% in the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company's stock worth $482,360,000 after acquiring an additional 9,865,533 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Cipher Mining during the third quarter valued at about $70,524,000. Situational Awareness LP boosted its position in Cipher Mining by 82.4% during the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company's stock valued at $154,524,000 after purchasing an additional 4,728,600 shares in the last quarter. Janus Henderson Group PLC grew its stake in Cipher Mining by 3,718.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company's stock valued at $63,359,000 after purchasing an additional 4,180,362 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Cipher Mining in the first quarter valued at about $9,316,000. Institutional investors own 12.26% of the company's stock.
Insider Activity at Cipher Mining
In other news, CEO Tyler Page sold 112,500 shares of Cipher Mining stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the completion of the sale, the chief executive officer directly owned 9,084,225 shares in the company, valued at approximately $192,494,727.75. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Holding Ltd V3 sold 1,200,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were 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 in the company, valued at $1,486,492,530.06. This trade represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,131,258 shares of company stock worth $81,429,288 in the last quarter. 3.09% of the stock is currently owned by company insiders.
Cipher Mining Stock Performance
Cipher Mining stock opened at $15.17 on Monday. The company has a debt-to-equity ratio of 9.69, a quick ratio of 3.00 and a current ratio of 3.00. The stock has a market cap of $6.30 billion, a PE ratio of -5.30 and a beta of 3.20. The stock has a 50-day moving average of $20.39 and a two-hundred day moving average of $19.13. Cipher Mining Inc. has a one year low of $6.95 and a one year high of $30.14.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued 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 business had revenue of $24.84 million for the quarter, compared to analysts' expectations of $31.86 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, research analysts anticipate that Cipher Mining Inc. will post -1.36 EPS for the current fiscal year.
Analyst Ratings Changes
CIFR has been the subject of several analyst reports. Needham & Company LLC increased their price target on shares of Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, May 15th. HC Wainwright raised their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cipher Mining in a research report on Wednesday, June 24th. Rosenblatt Securities reiterated a "buy" rating and set a $30.00 price objective on shares of Cipher Mining in a research note on Wednesday, August 5th. Finally, BTIG Research increased their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. One 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $28.61.
View Our Latest Research Report on Cipher Mining
Cipher Mining Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding CIFR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cipher Mining Inc. (NASDAQ:CIFR - Free Report).
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