Clear Street Group Inc. Purchases Shares of 1,015,096 Cipher Mining Inc. $CIFR

Key Points

• Clear Street Group bought a new stake in Cipher Mining during the fourth quarter, acquiring 1,015,096 shares valued at about $14.98 million and representing 0.26% of the company.
• Cipher Mining’s latest earnings missed expectations, with quarterly EPS of ($0.28) versus a expected ($0.27), while revenue came in at $34.84 million and fell 28.8% year over year.
• Insider selling has been notable, including a recent sale by COO Patrick Arthur Kelly and a larger sale by major shareholder V3 Holding Ltd, with insiders selling a total of 3.21 million shares over the last 90 days.

Clear Street Group Inc. purchased a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,015,096 shares of the company's stock, valued at approximately $14,983,000. Clear Street Group Inc. owned 0.26% of Cipher Mining at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CIFR. Millennium Management LLC bought a new stake in Cipher Mining in the first quarter valued at $9,316,000. Goldman Sachs Group Inc. grew its position in Cipher Mining by 52.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company's stock valued at $10,765,000 after acquiring an additional 1,610,073 shares during the period. Franklin Resources Inc. bought a new stake in Cipher Mining in the second quarter valued at $98,000. Prudential Financial Inc. grew its position in Cipher Mining by 113.7% in the second quarter. Prudential Financial Inc. now owns 31,595 shares of the company's stock valued at $151,000 after acquiring an additional 16,810 shares during the period. Finally, XTX Topco Ltd grew its position in Cipher Mining by 65.2% in the second quarter. XTX Topco Ltd now owns 29,708 shares of the company's stock valued at $142,000 after acquiring an additional 11,725 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Price Performance

Shares of CIFR stock opened at $24.50 on Friday. The stock's fifty day moving average is $20.09 and its 200-day moving average is $17.59. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The stock has a market capitalization of $10.02 billion, a PE ratio of -10.52 and a beta of 3.18. Cipher Mining Inc. has a 52 week low of $3.29 and a 52 week high of $28.62.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The business had revenue of $34.84 million for the quarter, compared to the consensus estimate 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 was down 28.8% compared to the same quarter last year. Equities research analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at Cipher Mining

In other news, COO Patrick Arthur Kelly sold 48,000 shares of the company'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 transaction, the chief operating officer owned 1,451,856 shares of the company's stock, valued at $28,107,932.16. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total value of $47,916,000.00. Following the transaction, the insider directly owned 59,516,694 shares in the company, valued at $1,584,334,394.28. This trade represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,213,804 shares of company stock valued at $82,381,735 over the last ninety days. Company insiders own 2.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CIFR shares. Zacks Research upgraded Cipher Mining from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a report on Friday, March 27th. Needham & Company LLC increased their target price on Cipher Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Jefferies Financial Group initiated coverage on Cipher Mining in a report on Thursday, May 14th. They set a "buy" rating and a $32.00 target price on the stock. Finally, BTIG Research restated a "buy" rating and set a $25.00 target price on shares of Cipher Mining in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $27.69.

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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