Dimensional Fund Advisors LP Cuts Stake in Cipher Mining Inc. $CIFR

Dimensional Fund Advisors LP lowered its holdings in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,351,360 shares of the company's stock after selling 79,675 shares during the quarter. Dimensional Fund Advisors LP owned 1.07% of Cipher Mining worth $55,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CIFR. Abel Hall LLC raised its stake in Cipher Mining by 3.8% during the 1st quarter. Abel Hall LLC now owns 20,140 shares of the company's stock worth $259,000 after acquiring an additional 739 shares during the period. CWM LLC grew its holdings in shares of Cipher Mining by 43.3% in the fourth quarter. CWM LLC now owns 2,661 shares of the company's stock valued at $39,000 after purchasing an additional 804 shares in the last quarter. Prospera Financial Services Inc lifted its position in Cipher Mining by 6.7% during the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company's stock valued at $230,000 after purchasing an additional 980 shares during the last quarter. Arax Advisory Partners grew its position in Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock worth $27,000 after acquiring an additional 1,338 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Cipher Mining by 26.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company's stock valued at $104,000 after purchasing an additional 1,468 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $22.32 on Friday. Cipher Mining Inc. has a 1-year low of $4.55 and a 1-year high of $30.14. The company's 50-day moving average is $23.34 and its two-hundred day moving average is $19.07. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of -9.58 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 (NASDAQ:CIFR - Get Free Report) last released its quarterly 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 firm had revenue of $34.84 million for the quarter, compared to analysts' expectations 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 quarterly revenue was down 28.8% compared to the same quarter last year. Analysts forecast that Cipher Mining Inc. will post -0.79 EPS for the current year.

Insider Buying and Selling

In related news, Director Cary M. Grossman sold 20,000 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total transaction of $436,400.00. Following the completion of the transaction, the director directly owned 150,530 shares of the company's stock, valued at $3,284,564.60. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Patrick Arthur Kelly sold 48,000 shares of Cipher Mining stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the transaction, the chief operating officer directly owned 1,451,856 shares of the company's stock, valued at approximately $28,107,932.16. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,245,336 shares of company stock worth $83,803,938. 2.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC increased their price objective 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. Chardan Capital began coverage on Cipher Mining in a report on Monday, July 27th. They issued a "buy" rating and a $32.00 price target on the stock. BTIG Research raised their price objective on Cipher Mining from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods boosted their price objective on shares of Cipher Mining from $27.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Finally, Sanford C. Bernstein initiated coverage on shares of Cipher Mining in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of "Moderate Buy" and an average target price of $28.74.

Cipher Mining 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.