Global Assets Advisory LLC Buys Shares of 59,066 Cipher Mining Inc. $CIFR

Key Points

• Global Assets Advisory LLC bought a new stake in Cipher Mining during the first quarter, purchasing 59,066 shares valued at about $760,000.
• Insider selling has been notable, with directors James E. Newsome and Cary M. Grossman recently selling shares; insiders sold 3.25 million shares worth about $83.8 million over the last 90 days.
• Analyst sentiment is mostly positive: several firms raised price targets or reiterated buy ratings, and the stock carries a consensus Moderate Buy rating with a target price of $28.31.

Global Assets Advisory LLC bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 59,066 shares of the company's stock, valued at approximately $760,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Cipher Mining by 43.2% in the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company's stock valued at $482,360,000 after buying an additional 9,865,533 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Cipher Mining during the 3rd quarter worth $70,524,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Cipher Mining in the 3rd quarter worth $64,266,000. Situational Awareness LP lifted its stake in shares of Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company's stock worth $154,524,000 after acquiring an additional 4,728,600 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Cipher Mining by 3,718.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company's stock worth $63,359,000 after acquiring an additional 4,180,362 shares during the period. Hedge funds and other institutional investors own 12.26% of the company's stock.

Insider Activity at Cipher Mining

In other news, Director James E. Newsome sold 3,758 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.60, for a total value of $99,962.80. Following the completion of the transaction, the director owned 128,530 shares in the company, valued at $3,418,898. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cary M. Grossman sold 15,000 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $29.43, for a total transaction of $441,450.00. Following the completion of the sale, the director owned 143,829 shares in the company, valued at $4,232,887.47. This represents a 9.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,245,336 shares of company stock valued at $83,803,938 in the last 90 days. 2.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CIFR shares. BTIG Research boosted their price target 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. Jefferies Financial Group began coverage on shares of Cipher Mining in a research report on Thursday, May 14th. They issued a "buy" rating and a $32.00 price objective for the company. Sanford C. Bernstein started coverage on shares of Cipher Mining in a research report on Wednesday, June 3rd. They issued an "outperform" rating and a $32.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cipher Mining in a report on Wednesday, June 24th. Finally, HC Wainwright boosted their target price on Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen 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, the company has an average rating of "Moderate Buy" and a consensus target price of $28.31.

Cipher Mining Price Performance

CIFR traded down $1.15 on Friday, hitting $22.11. 16,447,125 shares of the company were exchanged, compared to its average volume of 22,877,190. 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 business's fifty day moving average is $23.17 and its 200 day moving average is $18.53. Cipher Mining Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $30.14. The firm has a market capitalization of $9.04 billion, a P/E ratio of -9.49 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted 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 company had revenue of $34.84 million for the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The company's revenue for the quarter was down 28.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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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