Caitong International Asset Management Co. Ltd Buys 39,342 Shares of Cipher Mining Inc. $CIFR

Key Points

• Caitong International Asset Management increased its stake in Cipher Mining by 63.6% in the fourth quarter, buying 39,342 additional shares and bringing its total holding to 101,179 shares worth about $1.49 million.
• Several analysts remain bullish on CIFR, with recent price targets ranging as high as $32 and the consensus rating sitting at Moderate Buy with a target price of $27.69.
• Despite the positive sentiment, insider selling has been notable, including recent share sales by CEO Tyler Page and COO Patrick Arthur Kelly, while the company also reported a quarterly EPS and revenue miss in its latest earnings release.

Caitong International Asset Management Co. Ltd lifted its holdings in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 63.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,179 shares of the company's stock after acquiring an additional 39,342 shares during the quarter. Caitong International Asset Management Co. Ltd's holdings in Cipher Mining were worth $1,493,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of Cipher Mining during the 4th quarter worth about $25,000. Arax Advisory Partners increased its stake in Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock valued at $27,000 after purchasing an additional 1,338 shares in the last quarter. GAMMA Investing LLC raised its holdings in Cipher Mining by 218.3% in the fourth 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 period. Meeder Asset Management Inc. acquired a new stake in Cipher Mining in the fourth quarter worth $28,000. Finally, Danske Bank A S boosted its position in shares of Cipher Mining by 1,150.0% during the fourth 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. 12.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Tyler Page sold 37,500 shares of the stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $16.11, for a total transaction of $604,125.00. Following the completion of the sale, the chief executive officer directly owned 8,263,862 shares in the company, valued at $133,130,816.82. This represents a 0.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Patrick Arthur Kelly sold 48,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total transaction of $929,280.00. Following the completion of the sale, the chief operating officer directly owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,185,336 shares of company stock valued at $82,018,938 in the last 90 days. 2.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CIFR has been the topic of a number of research reports. Needham & Company LLC boosted their price target on Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, May 15th. HC Wainwright increased their price target on Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Sanford C. Bernstein started coverage on Cipher Mining in a report on Wednesday, June 3rd. They set an "outperform" rating and a $32.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Cipher Mining in a research report on Thursday, May 14th. They set a "buy" rating and a $32.00 price objective for the company. Finally, Cantor Fitzgerald decreased their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.69.

Cipher Mining Stock Down 0.2%

Shares of NASDAQ:CIFR opened at $29.13 on Friday. The stock has a market cap of $11.92 billion, a price-to-earnings 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 Inc. has a 12-month low of $3.29 and a 12-month high of $30.01. The business's 50 day moving average is $21.46 and its 200 day moving average is $17.90.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). The company had revenue of $34.84 million during 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%. The company's revenue for the quarter was down 28.8% compared to the same quarter last year. On average, sell-side analysts forecast that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

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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