Mitsubishi UFJ Asset Management Co. Ltd. Reduces Stock Position in Cipher Mining Inc. $CIFR

Mitsubishi UFJ Asset Management Co. Ltd. reduced its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 73.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,038 shares of the company’s stock after selling 46,100 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cipher Mining were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cipher Mining by 43.2% during the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after buying an additional 9,865,533 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Cipher Mining by 28.3% during the 2nd quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock valued at $33,386,000 after purchasing an additional 1,541,138 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Cipher Mining by 40.0% during the 3rd quarter. Invesco Ltd. now owns 6,852,074 shares of the company’s stock valued at $86,268,000 after purchasing an additional 1,958,385 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Cipher Mining by 64.9% during the 3rd quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company’s stock valued at $84,937,000 after purchasing an additional 2,655,015 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Cipher Mining during the 3rd quarter valued at $70,524,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cipher Mining news, Director James E. Newsome sold 45,161 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total value of $710,834.14. Following the completion of the transaction, the director directly owned 127,331 shares in the company, valued at $2,004,189.94. This represents a 26.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wesley Hastie Williams sold 28,169 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total transaction of $627,041.94. Following the transaction, the director owned 129,976 shares of the company’s stock, valued at approximately $2,893,265.76. This represents a 17.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 196,398 shares of company stock valued at $3,347,410. Insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CIFR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Keefe, Bruyette & Woods raised their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. 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. HC Wainwright boosted their price objective 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, Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.29.

Cipher Mining Stock Up 5.9%

Shares of CIFR stock opened at $21.24 on Thursday. Cipher Mining Inc. has a 12 month low of $3.02 and a 12 month high of $25.52. The stock has a market cap of $8.69 billion, a P/E ratio of -9.12 and a beta of 3.13. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The company has a 50 day simple moving average of $16.34 and a two-hundred day simple moving average of $16.91.

Cipher Mining (NASDAQ:CIFR) last announced its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $36.12 million. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, research analysts expect that Cipher Mining Inc. will post -0.9 earnings per share for the current year.

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.