Allspring Global Investments Holdings LLC Makes New $1.46 Million Investment in Cipher Mining Inc. $CIFR

Allspring Global Investments Holdings LLC bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 115,728 shares of the company's stock, valued at approximately $1,463,000.

Other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Cipher Mining during the fourth quarter worth $25,000. Arax Advisory Partners grew its stake in shares of Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock worth $27,000 after purchasing an additional 1,338 shares in the last quarter. GAMMA Investing LLC increased its stake in Cipher Mining by 218.3% during the 4th 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 period. Meeder Asset Management Inc. acquired a new position in shares of Cipher Mining during the fourth quarter valued at approximately $28,000. Finally, Danske Bank A S raised its stake in shares of 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 buying an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Price Performance

Shares of CIFR opened at $23.15 on Monday. The company has a 50-day simple moving average of $23.27 and a 200-day simple moving average of $18.93. 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 firm has a market capitalization of $9.47 billion, a P/E ratio of -9.94 and a beta of 3.18. Cipher Mining Inc. has a 52 week low of $4.55 and a 52 week high of $30.14.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). The firm had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company's quarterly revenue was down 28.8% on a year-over-year basis. On average, equities research analysts expect that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Insider Activity

In other news, Director Wesley Hastie Williams sold 28,169 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $22.26, for a total value of $627,041.94. Following the sale, the director owned 129,976 shares of the company's stock, valued at approximately $2,893,265.76. This represents a 17.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cary M. Grossman sold 20,000 shares of the business's stock in a transaction dated 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 transaction, the director owned 150,530 shares in the company, valued at approximately $3,284,564.60. This trade represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,245,336 shares of company stock valued at $83,803,938. 2.63% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CIFR. Cantor Fitzgerald cut their price objective on Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. BTIG Research raised their price target on shares of Cipher Mining from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Keefe, Bruyette & Woods boosted their target price on Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Sanford C. Bernstein started coverage on shares of Cipher Mining in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $32.00 price target on the stock. Finally, Jefferies Financial Group started coverage on Cipher Mining in a report on Thursday, May 14th. They set a "buy" rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cipher Mining presently has an average rating of "Moderate Buy" and an average target price of $28.44.

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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