Handelsbanken Fonder AB Increases Stock Position in Cipher Mining Inc. $CIFR

Handelsbanken Fonder AB grew its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 59.3% during the 2nd quarter, Holdings Channel reports. The firm owned 106,600 shares of the company’s stock after buying an additional 39,700 shares during the period. Handelsbanken Fonder AB’s holdings in Cipher Mining were worth $2,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CIFR. Scott Capital Advisors LLC grew its holdings in Cipher Mining by 26.9% during the 2nd quarter. Scott Capital Advisors LLC now owns 50,740 shares of the company’s stock valued at $1,243,000 after buying an additional 10,740 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Cipher Mining by 39.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 77,812 shares of the company’s stock worth $1,906,000 after buying an additional 21,849 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in shares of Cipher Mining by 726.6% in the second quarter. Strategic Investment Solutions Inc. IL now owns 4,571 shares of the company’s stock worth $112,000 after acquiring an additional 4,018 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Cipher Mining in the second quarter worth $58,000. Finally, Arlington Trust Co LLC lifted its position in shares of Cipher Mining by 319,230.8% in the second quarter. Arlington Trust Co LLC now owns 41,513 shares of the company’s stock valued at $1,017,000 after acquiring an additional 41,500 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CIFR shares. Morgan Stanley set a $43.50 price objective on Cipher Mining in a research note on Thursday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Cipher Mining in a research note on Wednesday, August 5th. Chardan Capital restated a “buy” rating and issued a $32.00 target price on shares of Cipher Mining in a report on Tuesday, August 4th. JPMorgan Chase & Co. decreased their price target on shares of Cipher Mining from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.61.

Cipher Mining Price Performance

CIFR stock opened at $17.85 on Monday. Cipher Mining Inc. has a 52-week low of $5.00 and a 52-week high of $30.14. The stock’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $19.12. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 9.69. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of -6.24 and a beta of 3.20.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.40). The business had revenue of $24.84 million during the quarter, compared to analysts’ expectations of $31.86 million. Cipher Mining had a negative net margin of 585.75% and a negative return on equity of 156.28%. During the same period in the prior year, the firm earned ($0.12) EPS. Equities research analysts expect that Cipher Mining Inc. will post -1.37 EPS for the current year.

Insider Transactions at Cipher Mining

In other Cipher Mining news, Director Wesley Hastie Williams sold 14,567 shares of Cipher Mining stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $21.41, for a total value of $311,879.47. Following the completion of the sale, the director owned 115,409 shares in the company, valued at $2,470,906.69. The trade was a 11.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holding Ltd V3 sold 1,200,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the transaction, the insider directly owned 58,316,694 shares of the company’s stock, valued at approximately $1,486,492,530.06. This represents a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,145,825 shares of company stock worth $81,741,167 in the last quarter. 3.09% of the stock is currently owned by corporate insiders.

About Cipher Mining

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.