Alchemi Wealth LLC Invests $1.30 Million in Cipher Mining Inc. $CIFR

Key Points

• Alchemi Wealth LLC opened a new position in Cipher Mining during the fourth quarter, buying 88,150 shares worth about $1.3 million. The stake represents roughly 0.7% of its portfolio and is now its 28th largest holding.
• Cipher Mining shares rose 8.3% to $24.50, near their 52-week high of $28.62. The stock remains volatile, with a high beta of 3.18 and a debt-to-equity ratio of 6.13.
• The company posted weaker-than-expected quarterly results, missing EPS and revenue estimates as revenue fell 28.8% year over year. Despite that, Wall Street analysts still have a Moderate Buy consensus with an average target price of $27.69.

Alchemi Wealth LLC acquired a new position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 88,150 shares of the company's stock, valued at approximately $1,301,000. Cipher Mining accounts for approximately 0.7% of Alchemi Wealth LLC's portfolio, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Cipher Mining by 43.3% during the fourth quarter. CWM LLC now owns 2,661 shares of the company's stock valued at $39,000 after buying an additional 804 shares during the last quarter. Prospera Financial Services Inc boosted its stake in Cipher Mining by 6.7% during the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company's stock valued at $230,000 after buying an additional 980 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock valued at $28,000 after buying an additional 1,286 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Cipher Mining by 26.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company's stock valued at $104,000 after buying an additional 1,468 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Cipher Mining during the fourth quarter valued at approximately $25,000. 12.26% of the stock is owned by institutional investors.

Cipher Mining Trading Up 8.3%

Shares of CIFR stock opened at $24.50 on Friday. Cipher Mining Inc. has a 1 year low of $3.29 and a 1 year high of $28.62. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The stock's 50 day simple moving average is $20.09 and its two-hundred day simple moving average is $17.59. The company has a market cap of $10.02 billion, a PE ratio of -10.52 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $34.84 million for the quarter, compared to analysts' expectations of $36.12 million. The business's revenue was down 28.8% compared to the same quarter last year. Research analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling at Cipher Mining

In other news, Director Wesley Hastie Williams sold 14,567 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total value of $311,879.47. Following the sale, the director directly owned 115,409 shares in the company, valued at approximately $2,470,906.69. This represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holding Ltd V3 sold 1,200,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $25.49, for a total value of $30,588,000.00. Following the completion of the sale, the insider owned 58,316,694 shares in the company, valued at approximately $1,486,492,530.06. The trade was a 2.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,213,804 shares of company stock valued at $82,381,735. Corporate insiders own 2.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CIFR shares. Wall Street Zen lowered Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. Sanford C. Bernstein started coverage on Cipher Mining in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $32.00 price target for the company. Rosenblatt Securities increased their price target on Cipher Mining from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price target on Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Morgan Stanley decreased their price objective on Cipher Mining from $53.50 to $48.50 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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