Cipher Mining Inc. $CIFR Shares Sold by Matauro LLC

Key Points

• Matauro LLC has reduced its stake in Cipher Mining Inc. by 70%, resulting in ownership of only 10,521 shares valued at approximately $50,000.
• Despite insider selling, Cipher Mining's stock rose 9.6% to $13.81, with a market capitalization of $5.43 billion.
• Research firms have increased their price targets for Cipher Mining, with Macquarie setting a new target at $16.00 and HC Wainwright at $17.00, indicating a positive outlook on the stock.

Matauro LLC cut its stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 70.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,521 shares of the company's stock after selling 24,549 shares during the quarter. Matauro LLC's holdings in Cipher Mining were worth $50,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its position in Cipher Mining by 26.6% in the fourth quarter. Mackenzie Financial Corp now owns 13,095 shares of the company's stock valued at $61,000 after purchasing an additional 2,754 shares during the period. Wellington Management Group LLP raised its position in Cipher Mining by 11.7% in the first quarter. Wellington Management Group LLP now owns 27,990 shares of the company's stock valued at $64,000 after purchasing an additional 2,940 shares during the period. DLK Investment Management LLC raised its position in Cipher Mining by 18.4% in the second quarter. DLK Investment Management LLC now owns 19,300 shares of the company's stock valued at $92,000 after purchasing an additional 3,000 shares during the period. SBI Securities Co. Ltd. raised its position in Cipher Mining by 13.0% in the first quarter. SBI Securities Co. Ltd. now owns 29,948 shares of the company's stock valued at $69,000 after purchasing an additional 3,455 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Cipher Mining by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 42,701 shares of the company's stock valued at $98,000 after purchasing an additional 4,287 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Up 9.6%

NASDAQ:CIFR opened at $13.81 on Friday. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of -32.12 and a beta of 2.87. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $15.54. The stock has a 50-day simple moving average of $8.25 and a 200 day simple moving average of $5.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, meeting analysts' consensus estimates of ($0.12). Cipher Mining had a negative return on equity of 21.71% and a negative net margin of 96.95%.The company had revenue of $43.57 million during the quarter, compared to the consensus estimate of $51.89 million. Sell-side analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 3,504,540 shares of Cipher Mining stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.36, for a total value of $43,316,114.40. Following the completion of the transaction, the insider directly owned 71,437,719 shares in the company, valued at $882,970,206.84. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 20,901,254 shares of company stock valued at $210,570,720 in the last three months. Insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CIFR. Macquarie raised their price objective on Cipher Mining from $8.00 to $16.00 and gave the company an "outperform" rating in a research report on Monday. HC Wainwright raised their price objective on Cipher Mining from $7.50 to $17.00 and gave the company a "buy" rating in a research report on Monday. Arete Research initiated coverage on Cipher Mining in a research report on Wednesday, September 24th. They set a "buy" rating and a $24.00 target price on the stock. Northland Securities set a $14.50 target price on Cipher Mining in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Cipher Mining from $6.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, September 26th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cipher Mining currently has a consensus rating of "Moderate Buy" and an average price target of $15.23.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.

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