Soltis Investment Advisors LLC Cuts Stock Holdings in Cipher Mining Inc. $CIFR

Key Points

• Soltis Investment Advisors slashed its Cipher Mining stake by 90.2% in the fourth quarter, leaving it with 10,792 shares valued at about $159,000.
• Wall Street remains mostly positive on CIFR, with analysts giving the stock a Moderate Buy consensus rating and an average price target of $27.00.
• Cipher Mining reported weaker-than-expected Q1/quarterly results, including EPS of -$0.28 and revenue of $34.84 million, while insiders have also been selling shares recently.

Soltis Investment Advisors LLC reduced its position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 90.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,792 shares of the company's stock after selling 99,436 shares during the period. Soltis Investment Advisors LLC's holdings in Cipher Mining were worth $159,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sherman Asset Management Inc. purchased a new stake in Cipher Mining during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC increased its stake in Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock worth $28,000 after buying an additional 1,286 shares in the last quarter. Hollencrest Capital Management purchased a new stake in Cipher Mining during the 3rd quarter worth approximately $31,000. Danske Bank A S increased its stake in Cipher Mining by 1,150.0% during the 4th quarter. Danske Bank A S now owns 2,500 shares of the company's stock worth $37,000 after buying an additional 2,300 shares in the last quarter. Finally, CWM LLC increased its stake in Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company's stock worth $39,000 after buying an additional 804 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CIFR. Needham & Company LLC raised their target price 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. Jefferies Financial Group began coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They issued a "buy" rating and a $32.00 target price on the stock. BTIG Research reissued a "buy" rating and issued a $25.00 target price on shares of Cipher Mining in a research note on Wednesday, May 6th. Zacks Research raised shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. Finally, Wall Street Zen lowered shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.00.

Cipher Mining Stock Down 1.7%

CIFR stock opened at $18.80 on Wednesday. The firm has a market cap of $7.69 billion, a PE ratio of -8.07 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. The firm's 50 day moving average price is $16.77 and its 200-day moving average price is $16.91. Cipher Mining Inc. has a one year low of $3.08 and a one year high of $25.52.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $34.84 million for the quarter, compared to analysts' expectations 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 revenue was down 28.8% on a year-over-year basis. On average, equities research analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current year.

Insider Activity

In other news, Director James E. Newsome sold 45,161 shares of Cipher Mining stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total transaction of $710,834.14. Following the sale, the director owned 127,331 shares of the company's stock, valued at approximately $2,004,189.94. The trade was a 26.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cary M. Grossman sold 20,000 shares of Cipher Mining stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total transaction of $436,400.00. Following the sale, the director directly owned 150,530 shares in the company, valued at approximately $3,284,564.60. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 244,398 shares of company stock worth $4,276,690. 2.63% of the stock is owned by company insiders.

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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