Cipher Mining Inc. $CIFR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has decreased its stake in Cipher Mining Inc. by 0.9%, now owning approximately 18 million shares worth $41.4 million.
• Several institutional investors, including Vident Advisory LLC and Two Sigma Investments LP, have increased their holdings in Cipher Mining, demonstrating a varied interest in the company's prospects.
• Cipher Mining reported a negative net margin of 96.95% for the last quarter and has a consensus target price of $7.67 among analysts, reflecting mixed outlooks on its financial health.

Vanguard Group Inc. decreased its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,008,926 shares of the company's stock after selling 163,154 shares during the period. Vanguard Group Inc. owned approximately 4.85% of Cipher Mining worth $41,421,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Impact Partnership Wealth LLC acquired a new stake in shares of Cipher Mining during the first quarter worth about $109,000. Maridea Wealth Management LLC lifted its position in Cipher Mining by 169.5% in the first quarter. Maridea Wealth Management LLC now owns 551,522 shares of the company's stock valued at $1,269,000 after purchasing an additional 346,911 shares during the period. Vontobel Holding Ltd. lifted its position in Cipher Mining by 76.8% in the first quarter. Vontobel Holding Ltd. now owns 147,872 shares of the company's stock valued at $340,000 after purchasing an additional 64,240 shares during the period. Private Advisor Group LLC lifted its position in Cipher Mining by 249.3% in the first quarter. Private Advisor Group LLC now owns 701,804 shares of the company's stock valued at $1,614,000 after purchasing an additional 500,864 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cipher Mining by 71.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,594 shares of the company's stock valued at $1,720,000 after buying an additional 153,921 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.

Wall Street Analyst Weigh In

CIFR has been the subject of several recent analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a report on Wednesday, May 7th. Canaccord Genuity Group lifted their price target on shares of Cipher Mining from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Macquarie lifted their price target on shares of Cipher Mining from $6.00 to $8.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Finally, Jones Trading initiated coverage on Cipher Mining in a research report on Monday, July 21st. They set a "hold" rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.67.

Insiders Place Their Bets

In other news, COO Patrick Arthur Kelly sold 44,871 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $5.20, for a total value of $233,329.20. Following the sale, the chief operating officer owned 1,089,260 shares in the company, valued at approximately $5,664,152. This represents a 3.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $6.06, for a total transaction of $1,752,218.70. Following the completion of the sale, the insider owned 93,378,292 shares in the company, valued at approximately $565,872,449.52. This trade represents a 0.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,466,662 shares of company stock worth $33,020,046. Company insiders own 2.89% of the company's stock.

Cipher Mining Stock Up 8.8%

CIFR stock traded up $0.62 during trading on Friday, reaching $7.64. The stock had a trading volume of 70,023,825 shares, compared to its average volume of 22,474,006. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $8.71. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $3.00 billion, a P/E ratio of -17.77 and a beta of 2.73. The firm has a fifty day moving average price of $5.69 and a 200 day moving average price of $4.19.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, hitting analysts' consensus estimates of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The firm had revenue of $43.57 million for the quarter, compared to analyst estimates of $51.89 million. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Cipher Mining Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.