Capital Research Global Investors Invests $29.46 Million in Cipher Mining Inc. $CIFR

Key Points

• Capital Research Global Investors opened a new position in Cipher Mining during the fourth quarter, buying 1,995,945 shares worth about $29.46 million and ending with roughly 0.51% ownership.
• Several other institutional investors also increased or initiated stakes, while insiders have been selling shares; CEO Tyler Page and major shareholder Holding Ltd V3 both completed notable sales, and insiders sold 3.2 million shares last quarter.
• Analysts remain generally constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $27.69, even as Cipher Mining reported a quarterly loss and revenue below expectations.

Capital Research Global Investors purchased a new position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,995,945 shares of the company's stock, valued at approximately $29,460,000. Capital Research Global Investors owned approximately 0.51% of Cipher Mining at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Cipher Mining in the fourth quarter worth about $25,000. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 1,286 shares in the last quarter. Danske Bank A S lifted its stake in shares of Cipher Mining by 1,150.0% in the fourth 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. CWM LLC lifted its stake in shares of Cipher Mining by 43.3% in the fourth quarter. CWM LLC now owns 2,661 shares of the company's stock worth $39,000 after buying an additional 804 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Cipher Mining in the fourth quarter worth about $55,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, CEO Tyler Page sold 37,500 shares of Cipher Mining stock in a transaction dated Wednesday, March 25th. The shares were 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 trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holding Ltd V3 sold 1,200,000 shares of Cipher Mining stock in a transaction dated 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 owned 58,316,694 shares of the company's stock, valued at approximately $1,486,492,530.06. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,213,804 shares of company stock valued at $82,381,735. 2.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. BTIG Research reaffirmed a "buy" rating and set a $25.00 target price on shares of Cipher Mining in a research note on Wednesday, May 6th. Morgan Stanley reduced their target price on shares of Cipher Mining from $53.50 to $48.50 and set an "overweight" rating on the stock in a research note on Thursday, June 4th. HC Wainwright lifted their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities lifted their target price on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. One 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.69.

Cipher Mining Price Performance

Shares of CIFR stock opened at $23.03 on Wednesday. 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 firm's 50-day moving average is $19.48 and its two-hundred day moving average is $17.43. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $28.62. The company has a market capitalization of $9.42 billion, a PE ratio of -9.88 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly 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). 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 analyst estimates of $36.12 million. The company's revenue was down 28.8% compared to the same quarter last year. Analysts predict that Cipher Mining Inc. will post -0.8 earnings per share 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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