Cipher Mining Inc. $CIFR Stock Position Trimmed by Two Seas Capital LP

Key Points

• Two Seas Capital LP reduced its Cipher Mining stake by 33.8% in the fourth quarter, leaving it with 305,756 shares worth about $4.5 million at quarter-end.
• Institutional ownership remains significant, with funds like Vanguard and Two Sigma increasing positions, while overall institutional investors hold about 12.26% of the stock.
• Analysts are mixed but mostly positive: the stock carries a consensus “Moderate Buy” rating and a $27.69 price target, even as some firms trimmed targets and Weiss Ratings reiterated a sell rating.

Two Seas Capital LP cut its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 33.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 305,756 shares of the company's stock after selling 156,244 shares during the quarter. Cipher Mining comprises 0.1% of Two Seas Capital LP's holdings, making the stock its 26th biggest position. Two Seas Capital LP owned approximately 0.08% of Cipher Mining worth $4,513,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Cipher Mining by 43.2% during the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company's stock worth $482,360,000 after buying an additional 9,865,533 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Cipher Mining during the third quarter worth approximately $70,524,000. Value Aligned Research Advisors LLC acquired a new position in shares of Cipher Mining during the third quarter worth approximately $64,266,000. Millennium Management LLC acquired a new position in shares of Cipher Mining during the first quarter worth approximately $9,316,000. Finally, Two Sigma Investments LP boosted its position in shares of Cipher Mining by 64.9% during the third quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company's stock worth $84,937,000 after buying an additional 2,655,015 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Insider Transactions at Cipher Mining

In other Cipher Mining news, Director Wesley Hastie Williams sold 14,567 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total value of $311,879.47. Following the completion of the sale, the director directly owned 115,409 shares in the company, valued at $2,470,906.69. This represents a 11.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cary M. Grossman sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $21.82, for a total value of $436,400.00. Following the completion of the sale, the director owned 150,530 shares of the company's stock, valued at $3,284,564.60. This trade represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,013,804 shares of company stock valued at $51,793,735 over the last three months. 2.63% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reduced their price objective on Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Morgan Stanley reduced their price objective on Cipher Mining from $53.50 to $48.50 and set an "overweight" rating for the company in a research report on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cipher Mining in a research report on Friday, March 27th. Jefferies Financial Group assumed coverage on 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, Needham & Company LLC boosted their price objective on Cipher Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.69.

Cipher Mining Stock Performance

CIFR opened at $22.45 on Friday. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of -9.64 and a beta of 3.18. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. Cipher Mining Inc. has a 1-year low of $3.29 and a 1-year high of $28.62. The business has a 50 day moving average price of $19.10 and a two-hundred day moving average price of $17.29.

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 firm had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business's revenue for the quarter was down 28.8% compared to the same quarter last year. Research analysts predict that Cipher Mining Inc. will post -0.8 EPS 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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