Foundations Investment Advisors LLC Invests $667,000 in Cipher Mining Inc. $CIFR

Key Points

• Foundations Investment Advisors disclosed a new position in Cipher Mining during the fourth quarter, buying 45,181 shares worth about $667,000.
• Institutional interest remains mixed: several firms increased or initiated small stakes, while insiders sold shares, including COO Patrick Arthur Kelly’s 48,000-share sale and director Cary M. Grossman’s 30,000-share sale.
• Analysts are generally constructive on the stock, with a Moderate Buy consensus and an average price target of $27; Cipher Mining shares recently traded at $24.01 after reporting a quarterly earnings miss and a year-over-year revenue decline.

Foundations Investment Advisors LLC acquired a new position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 45,181 shares of the company's stock, valued at approximately $667,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Cipher Mining by 218.3% in the fourth 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 in the last quarter. Sherman Asset Management Inc. acquired a new stake in shares of Cipher Mining in the third quarter valued at about $25,000. Danske Bank A S grew its stake in shares of Cipher Mining by 1,150.0% in the fourth quarter. Danske Bank A S now owns 2,500 shares of the company's stock valued at $37,000 after buying an additional 2,300 shares in the last quarter. CWM LLC grew 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 in the last quarter. Finally, Peterson Wealth Services acquired a new stake in shares of Cipher Mining in the third quarter valued at about $41,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Insider Activity at Cipher Mining

In other news, 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 transaction of $929,280.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cary M. Grossman sold 30,000 shares of Cipher Mining stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.54, for a total value of $436,200.00. Following the transaction, the director owned 170,530 shares in the company, valued at approximately $2,479,506.20. This trade represents a 14.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 258,965 shares of company stock worth $4,588,569 in the last quarter. Company insiders own 2.63% of the company's stock.

Wall Street Analysts Forecast Growth

CIFR has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Cipher Mining in a research note on Thursday, May 14th. They issued a "buy" rating and a $32.00 target price for the company. Wall Street Zen lowered Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. Cantor Fitzgerald lowered their target price on Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. HC Wainwright increased their target price on Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

Cipher Mining Stock Up 1.5%

Shares of Cipher Mining stock opened at $24.01 on Tuesday. The business's fifty day moving average price is $18.28 and its two-hundred day moving average price is $17.03. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market capitalization of $9.82 billion, a P/E ratio of -10.30 and a beta of 3.18. Cipher Mining Inc. has a 1-year low of $3.08 and a 1-year high of $25.56.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share 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 net margin of 427.79% and a negative return on equity of 117.65%. The firm's quarterly revenue was down 28.8% on a year-over-year basis. As a group, research analysts forecast 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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