Cipher Mining Inc. $CIFR Shares Acquired by X Square Capital LLC

Key Points

• X Square Capital LLC boosted its stake in Cipher Mining by 326.5% in the fourth quarter, ending with 101,500 shares worth about $1.5 million.
• Institutional interest remains significant, with firms like Vanguard adding to their positions; overall, hedge funds and institutions own 12.26% of Cipher Mining.
• Analysts are mostly bullish on CIFR, with a Moderate Buy consensus and an average price target of $27.69, while the stock recently traded at $24.29 after reporting mixed quarterly results.

X Square Capital LLC increased its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 326.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,500 shares of the company's stock after buying an additional 77,700 shares during the period. X Square Capital LLC's holdings in Cipher Mining were worth $1,498,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CIFR. Vanguard Group Inc. raised its position in shares of Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company's stock valued at $482,360,000 after buying an additional 9,865,533 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Cipher Mining during the third quarter worth approximately $70,524,000. Value Aligned Research Advisors LLC acquired a new position in Cipher Mining during the third quarter worth approximately $64,266,000. Situational Awareness LP increased its position in Cipher Mining by 82.4% during the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company's stock worth $154,524,000 after purchasing an additional 4,728,600 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Cipher Mining during the first quarter worth approximately $9,316,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CIFR. BTIG Research reaffirmed a "buy" rating and set a $25.00 price target on shares of Cipher Mining in a research report on Wednesday, May 6th. Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Zacks Research raised shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 25th. Needham & Company LLC upped their price target on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, HC Wainwright upped their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a research report 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.69.

Cipher Mining Price Performance

CIFR opened at $24.29 on Tuesday. 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 52-week low of $3.29 and a 52-week high of $28.62. The company has a 50 day moving average of $19.29 and a two-hundred day moving average of $17.37. The company has a market cap of $9.94 billion, a P/E ratio of -10.42 and a beta of 3.18.

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

Insiders Place Their Bets

In other news, CEO Tyler Page sold 37,500 shares of the company's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the completion of the transaction, the chief executive officer directly owned 8,263,862 shares in the company, valued at approximately $133,130,816.82. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 48,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total transaction of $929,280.00. Following the completion of the transaction, the chief operating officer owned 1,451,856 shares of the company's stock, valued at $28,107,932.16. This trade represents a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety 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.

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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