Feynman Point Asset Management LLC Lowers Stock Position in Cipher Mining Inc. $CIFR

Key Points

• Feynman Point Asset Management cut its Cipher Mining stake by 40.3% in the first quarter, selling 64,950 shares and retaining 96,023 shares valued at approximately $1.24 million.
• Wall Street remains broadly bullish: Cipher Mining has a consensus “Moderate Buy” rating and an average price target of $28.74, with recent targets ranging from $22 to $35.
• Despite the positive analyst outlook, insiders sold 3.25 million shares worth $83.8 million over the past 90 days, while the company reported a quarterly loss, revenue down 28.8% year over year, and negative profitability metrics.

Feynman Point Asset Management LLC reduced its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 40.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,023 shares of the company's stock after selling 64,950 shares during the period. Cipher Mining comprises 1.5% of Feynman Point Asset Management LLC's investment portfolio, making the stock its 9th biggest position. Feynman Point Asset Management LLC's holdings in Cipher Mining were worth $1,236,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Abel Hall LLC lifted its stake in Cipher Mining by 3.8% in the first quarter. Abel Hall LLC now owns 20,140 shares of the company's stock valued at $259,000 after purchasing an additional 739 shares during the last quarter. CWM LLC raised its stake 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 buying an additional 804 shares during the period. Prospera Financial Services Inc raised its stake in shares of Cipher Mining by 6.7% in the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company's stock valued at $230,000 after buying an additional 980 shares during the period. GAMMA Investing LLC lifted its position in shares of Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock valued at $28,000 after buying an additional 1,286 shares during the last quarter. Finally, Arax Advisory Partners lifted its position in shares of Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock valued at $27,000 after buying an additional 1,338 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

CIFR has been the subject of several recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $30.00 price objective on shares of Cipher Mining in a report on Thursday, June 25th. HC Wainwright increased their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. BTIG Research lifted their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Needham & Company LLC boosted their price target on shares of Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, Cantor Fitzgerald lowered their price target on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.74.

Insider Activity

In other news, Director Wesley Hastie Williams sold 14,567 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $21.41, for a total value of $311,879.47. Following the sale, the director directly owned 115,409 shares of the company's stock, valued at approximately $2,470,906.69. This represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holding Ltd V3 sold 1,200,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the completion of the transaction, the insider owned 58,316,694 shares of the company's stock, valued at $1,486,492,530.06. This trade represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,245,336 shares of company stock valued at $83,803,938. 2.63% of the stock is currently owned by insiders.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $20.42 on Wednesday. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. Cipher Mining Inc. has a 52-week low of $4.55 and a 52-week high of $30.14. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -8.76 and a beta of 3.18. The business's fifty day moving average is $23.35 and its 200 day moving average is $18.99.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data 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). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company had revenue of $34.84 million for the quarter, compared to analysts' expectations of $36.12 million. Cipher Mining's revenue for the quarter was down 28.8% on a year-over-year basis. Research analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current year.

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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