Pictet Asset Management Holding SA Has $780,000 Position in Cipher Mining Inc. $CIFR

Pictet Asset Management Holding SA lowered its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 66.5% in the first quarter, Holdings Channel reports. The firm owned 60,626 shares of the company’s stock after selling 120,472 shares during the period. Pictet Asset Management Holding SA’s holdings in Cipher Mining were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings 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 worth $482,360,000 after buying an additional 9,865,533 shares during the period. Voloridge Investment Management LLC acquired a new position in Cipher Mining in the 3rd quarter valued at $70,524,000. Value Aligned Research Advisors LLC bought a new position in Cipher Mining in the 3rd quarter worth $64,266,000. Situational Awareness LP raised its holdings in Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after acquiring an additional 4,728,600 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Cipher Mining by 3,718.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock worth $63,359,000 after acquiring an additional 4,180,362 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Analyst Ratings Changes

CIFR has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 price objective on shares of Cipher Mining in a research note on Thursday, June 25th. BTIG Research boosted their price objective on Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Sanford C. Bernstein began coverage on Cipher Mining in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 target price for the company. Finally, Morgan Stanley lowered their target price on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.31.

Cipher Mining Price Performance

NASDAQ:CIFR opened at $21.85 on Thursday. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. Cipher Mining Inc. has a one year low of $4.55 and a one year high of $30.14. The company has a fifty day moving average price of $22.95 and a 200 day moving average price of $18.46. The stock has a market cap of $8.94 billion, a P/E ratio of -9.38 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. The business’s revenue for the quarter was down 28.8% on a year-over-year basis. Analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Patrick Arthur Kelly sold 48,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total transaction of $929,280.00. Following the transaction, the chief operating officer directly owned 1,451,856 shares in the company, valued at $28,107,932.16. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wesley Hastie Williams sold 14,567 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $21.41, for a total value of $311,879.47. Following the completion of the transaction, the director directly owned 115,409 shares of the company’s stock, valued at approximately $2,470,906.69. This trade represents a 11.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,132,836 shares of company stock valued at $81,420,063 in the last quarter. 2.63% of the stock is currently owned by 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.