Janus Henderson Group PLC Grows Holdings in Cipher Mining Inc. $CIFR

Key Points

• Janus Henderson increased its Cipher Mining stake by 1.9% in the first quarter, holding 4.37 million shares worth approximately $56.3 million, or 1.07% of the company. Institutional investors and hedge funds collectively own 12.26% of CIFR.
• Insiders have been net sellers, with executives and directors selling 3.25 million shares valued at $83.8 million over the past 90 days. CEO Tyler Page’s 112,500-share sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $28.74 price target. However, Cipher Mining reported a quarterly loss of $0.28 per share, revenue fell 28.8% year over year to $34.84 million, and analysts expect a full-year loss of $0.79 per share.

Janus Henderson Group PLC increased its position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,373,982 shares of the company's stock after acquiring an additional 81,192 shares during the quarter. Janus Henderson Group PLC owned approximately 1.07% of Cipher Mining worth $56,292,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in shares of Cipher Mining by 16.6% in the fourth quarter. HighTower Advisors LLC now owns 671,775 shares of the company's stock worth $9,915,000 after acquiring an additional 95,686 shares during the last quarter. Foundations Investment Advisors LLC purchased a new stake in Cipher Mining during the 4th quarter worth $667,000. Purpose Unlimited Inc. purchased a new stake in shares of Cipher Mining in the fourth quarter worth about $1,558,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Cipher Mining in the first quarter valued at approximately $2,188,000. Finally, Tyche Wealth Partners LLC grew its holdings in Cipher Mining by 119.0% during the 4th quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company's stock valued at $1,697,000 after purchasing an additional 62,500 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cipher Mining

In other news, CEO Tyler Page sold 112,500 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the sale, the chief executive officer owned 9,084,225 shares in the company, valued at $192,494,727.75. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cary M. Grossman sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,245,336 shares of company stock valued at $83,803,938. Corporate insiders own 2.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a research note on Wednesday, June 24th. Needham & Company LLC boosted their price objective 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. Morgan Stanley dropped their target price on Cipher Mining from $48.50 to $47.00 and set an "overweight" rating on the stock in a research report on Monday, July 20th. Chardan Capital started coverage on shares of Cipher Mining in a research note on Monday, July 27th. They issued a "buy" rating and a $32.00 price target on the stock. Finally, Sanford C. Bernstein initiated coverage on Cipher Mining in a report on Wednesday, June 3rd. They set an "outperform" rating and a $32.00 price target on the stock. One 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 given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $28.74.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $22.32 on Friday. Cipher Mining Inc. has a one year low of $4.55 and a one year high of $30.14. The company has a market capitalization of $9.13 billion, a PE ratio of -9.58 and a beta of 3.18. 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 stock has a fifty day moving average of $23.34 and a 200-day moving average of $19.07.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). The company had revenue of $34.84 million during 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, equities analysts anticipate that Cipher Mining Inc. will post -0.79 EPS for the current fiscal year.

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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