Azora Capital LP Invests $13.15 Million in Cipher Mining Inc. $CIFR

Key Points

• Azora Capital LP opened a new position in Cipher Mining, buying 890,561 shares worth about $13.15 million in the fourth quarter and owning roughly 0.23% of the company.
• Institutional activity around CIFR has been active, with large investors like Vanguard and Situational Awareness LP significantly increasing their stakes, while institutional holders collectively own 12.26% of the stock.
• Insiders have been selling shares recently, including a major shareholder’s $47.9 million sale and COO Patrick Arthur Kelly’s sale of 48,000 shares, even as analysts maintain a Moderate Buy consensus with a target price of $27.69.

Azora Capital LP purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 890,561 shares of the company's stock, valued at approximately $13,145,000. Azora Capital LP owned approximately 0.23% of Cipher Mining as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CIFR. Vanguard Group Inc. boosted its stake in shares of Cipher Mining by 43.2% during 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 shares of Cipher Mining during the 3rd quarter worth about $70,524,000. Value Aligned Research Advisors LLC bought a new stake in shares of Cipher Mining during the 3rd quarter worth about $64,266,000. Situational Awareness LP boosted its stake in Cipher Mining by 82.4% during the 4th 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 during the period. Finally, Millennium Management LLC bought a new stake in Cipher Mining during the 1st quarter valued at approximately $9,316,000. Institutional investors own 12.26% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Holding Ltd V3 sold 1,800,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $1,584,334,394.28. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Patrick Arthur Kelly sold 48,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the completion of the transaction, the chief operating officer directly owned 1,451,856 shares of the company's stock, valued at approximately $28,107,932.16. The trade was a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,178,236 shares of company stock worth $81,848,926 in the last 90 days. 2.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CIFR has been the subject of several recent analyst reports. Needham & Company LLC increased their target price on Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a research note on Friday, March 27th. Cantor Fitzgerald decreased their target price on Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. HC Wainwright increased their target price on Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cipher Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.69.

Cipher Mining Price Performance

Shares of CIFR stock opened at $26.35 on Thursday. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $28.62. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The stock has a 50 day moving average of $20.89 and a two-hundred day moving average of $17.75. The company has a market capitalization of $10.78 billion, a P/E ratio of -11.31 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its earnings results 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 return on equity of 117.65% and a negative net margin of 427.79%.The company 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% on a year-over-year basis. As a group, equities analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current year.

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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