Handelsbanken Fonder AB Buys Shares of 60,000 Cipher Mining Inc. $CIFR

Key Points

• Handelsbanken Fonder AB initiated a new position in Cipher Mining during the fourth quarter, buying 60,000 shares valued at about $886,000.
• Institutional interest in Cipher Mining remains active, with firms like Vanguard, American Century, and Tyche Wealth Partners increasing their stakes. Overall, hedge funds and other institutional investors own 12.26% of the stock.
• Cipher Mining reported a slight earnings miss in its latest quarter, posting EPS of -$0.28 versus estimates of -$0.27, while revenue came in below expectations and fell 28.8% year over year.

Handelsbanken Fonder AB bought a new stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,000 shares of the company's stock, valued at approximately $886,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Cipher Mining by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company's stock worth $287,236,000 after purchasing an additional 2,699,717 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Cipher Mining by 138.2% during the 3rd quarter. American Century Companies Inc. now owns 1,406,864 shares of the company's stock worth $17,712,000 after purchasing an additional 816,198 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Cipher Mining by 16.6% during the 4th quarter. HighTower Advisors LLC now owns 671,775 shares of the company's stock worth $9,915,000 after purchasing an additional 95,686 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Cipher Mining by 15.7% during the 3rd quarter. Private Advisor Group LLC now owns 1,789,462 shares of the company's stock worth $22,529,000 after purchasing an additional 242,894 shares in the last quarter. Finally, Tyche Wealth Partners LLC increased its stake in shares of Cipher Mining by 119.0% during the 4th quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company's stock worth $1,697,000 after purchasing an additional 62,500 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Up 9.3%

Shares of NASDAQ CIFR opened at $25.16 on Thursday. Cipher Mining Inc. has a 1 year low of $3.08 and a 1 year high of $25.56. The firm's 50 day moving average price is $17.72 and its 200 day moving average price is $16.93. The firm has a market cap of $10.29 billion, a P/E ratio of -10.80 and a beta of 3.13. 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 (NASDAQ:CIFR - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates 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. As a group, sell-side analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

CIFR has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They set a "buy" rating and a $32.00 price objective for the company. Zacks Research raised shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. Needham & Company LLC raised their price objective on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. HC Wainwright raised their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald decreased their target price 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. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.00.

Insider Buying and Selling

In other Cipher Mining news, CEO Tyler Page sold 37,500 shares of Cipher Mining stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the transaction, the chief executive officer owned 8,263,862 shares in the company, valued at $133,130,816.82. This trade represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Wesley Hastie Williams sold 28,169 shares of Cipher Mining stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $22.26, for a total transaction of $627,041.94. Following the completion of the transaction, the director owned 129,976 shares in the company, valued at approximately $2,893,265.76. This trade represents a 17.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 258,965 shares of company stock worth $4,588,569 over the last 90 days. Company insiders own 2.63% of the company's stock.

Cipher Mining Company 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.

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