CloudAlpha Capital Management Limited Hong Kong Invests $1.58 Million in Cipher Mining Inc. $CIFR

Key Points

• CloudAlpha Capital Management disclosed a new fourth-quarter stake in Cipher Mining, buying 107,000 shares worth about $1.58 million.
• Several other institutional investors also added to or initiated positions, and institutions now own 12.26% of Cipher Mining’s shares.
• Insider selling has been notable: directors and executives sold shares in recent transactions, with 244,398 shares sold over the last 90 days.

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 107,000 shares of the company's stock, valued at approximately $1,579,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sherman Asset Management Inc. purchased a new position in Cipher Mining in the 3rd quarter worth $25,000. GAMMA Investing LLC raised its position in Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock worth $28,000 after purchasing an additional 1,286 shares during the period. Hollencrest Capital Management purchased a new position in Cipher Mining in the 3rd quarter worth $31,000. Danske Bank A S raised its position in Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company's stock worth $37,000 after purchasing an additional 2,300 shares during the period. Finally, CWM LLC raised its position in Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company's stock worth $39,000 after purchasing an additional 804 shares during the period. Institutional investors own 12.26% of the company's stock.

Insiders Place Their Bets

In other Cipher Mining news, Director Cary M. Grossman sold 20,000 shares of the firm's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total value of $436,400.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Arthur Kelly sold 48,000 shares of the firm'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 completion of the sale, the chief operating officer directly owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 244,398 shares of company stock worth $4,276,690. 2.63% of the stock is currently owned by insiders.

Cipher Mining Price Performance

Shares of Cipher Mining stock opened at $18.80 on Wednesday. The firm has a market cap of $7.69 billion, a PE ratio of -8.07 and a beta of 3.13. Cipher Mining Inc. has a 12-month low of $3.08 and a 12-month high of $25.52. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. The company's fifty day simple moving average is $16.77 and its two-hundred day simple moving average is $16.91.

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 (EPS) 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 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%.Cipher Mining's revenue was down 28.8% on a year-over-year basis. As a group, equities analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cipher Mining in a research report on Friday, March 27th. Wall Street Zen cut shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research report on Sunday, March 1st. Needham & Company LLC lifted their target price 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. Zacks Research upgraded shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 25th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

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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