Y Intercept Hong Kong Ltd Buys New Stake in Cipher Mining Inc. $CIFR

Y Intercept Hong Kong Ltd purchased a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,229 shares of the company’s stock, valued at approximately $544,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Cipher Mining by 996.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock valued at $10,645,000 after buying an additional 2,023,994 shares in the last quarter. Thames Capital Management LLC purchased a new stake in Cipher Mining in the third quarter valued at $19,070,000. Legal & General Group Plc lifted its position in Cipher Mining by 33.4% in the second quarter. Legal & General Group Plc now owns 298,446 shares of the company’s stock valued at $1,427,000 after acquiring an additional 74,744 shares during the last quarter. Soros Fund Management LLC boosted its stake in Cipher Mining by 67.5% in the second quarter. Soros Fund Management LLC now owns 1,300,000 shares of the company’s stock valued at $6,214,000 after acquiring an additional 524,044 shares in the last quarter. Finally, Two Seas Capital LP acquired a new position in Cipher Mining in the second quarter valued at $1,195,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Stock Up 2.8%

CIFR opened at $16.26 on Wednesday. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $25.52. The business has a 50 day moving average price of $17.25 and a two-hundred day moving average price of $14.04. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31. The company has a market cap of $6.42 billion, a PE ratio of -90.33 and a beta of 2.95.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%.The business had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. As a group, research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, COO Patrick Arthur Kelly sold 35,569 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $15.08, for a total transaction of $536,380.52. Following the transaction, the chief operating officer directly owned 1,151,770 shares in the company, valued at $17,368,691.60. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James E. Newsome sold 21,821 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.03, for a total transaction of $349,790.63. Following the transaction, the director directly owned 172,492 shares of the company’s stock, valued at $2,765,046.76. This represents a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 271,023 shares of company stock worth $4,442,255 in the last ninety days. Insiders own 2.63% of the company’s stock.

Analyst Ratings Changes

CIFR has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Citizens Jmp assumed coverage on Cipher Mining in a research note on Wednesday, November 19th. They set an “outperform” rating and a $30.00 price target on the stock. Citigroup began coverage on Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating for the company. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a report on Wednesday, November 5th. Finally, JMP Securities set a $30.00 target price on shares of Cipher Mining in a research report on Wednesday, November 19th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and an average target price of $24.54.

Cipher Mining 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.