Handelsbanken Fonder AB Buys New Stake in Cipher Mining Inc. $CIFR

Handelsbanken Fonder AB bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the 4th quarter, Holdings Channel.com reports. The firm bought 60,000 shares of the company’s stock, valued at approximately $886,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ProShare Advisors LLC lifted its holdings in shares of Cipher Mining by 32.9% during the 4th quarter. ProShare Advisors LLC now owns 60,279 shares of the company’s stock valued at $890,000 after acquiring an additional 14,926 shares in the last quarter. HighTower Advisors LLC lifted its holdings 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 valued at $9,915,000 after acquiring an additional 95,686 shares in the last quarter. L & S Advisors Inc acquired a new position in shares of Cipher Mining during the 4th quarter valued at $169,000. Swiss Life Asset Management Ltd lifted its holdings in shares of Cipher Mining by 32.9% during the 4th quarter. Swiss Life Asset Management Ltd now owns 15,695 shares of the company’s stock valued at $232,000 after acquiring an additional 3,883 shares in the last quarter. Finally, MGO One Seven LLC lifted its holdings in shares of Cipher Mining by 103.7% during the 4th quarter. MGO One Seven LLC now owns 23,895 shares of the company’s stock valued at $353,000 after acquiring an additional 12,167 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Price Performance

CIFR opened at $25.16 on Thursday. The company has a 50-day moving average of $17.72 and a 200-day moving average of $16.93. The company has a market capitalization of $10.29 billion, a P/E ratio of -10.80 and a beta of 3.13. Cipher Mining Inc. has a 1-year low of $3.08 and a 1-year high of $25.56. 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) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The company had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.Cipher Mining’s quarterly revenue was down 28.8% on a year-over-year basis. Equities analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Tyler Page sold 37,500 shares of the business’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the completion of the sale, the chief executive officer owned 8,263,862 shares of the company’s stock, valued at approximately $133,130,816.82. The trade was a 0.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cary M. Grossman sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $21.82, for a total transaction of $436,400.00. Following the completion of the sale, the director directly owned 150,530 shares of the company’s stock, valued at $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 three months, insiders have sold 258,965 shares of company stock worth $4,588,569. 2.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CIFR shares. Cantor Fitzgerald reduced their target price on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Morgan Stanley lifted their price target on shares of Cipher Mining to $42.50 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Keefe, Bruyette & Woods lifted their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. HC Wainwright lifted their price target 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, BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research note on Wednesday, May 6th. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

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.