Cipher Mining Inc. $CIFR Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 29.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,505 shares of the company’s stock after selling 24,727 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cipher Mining were worth $779,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in shares of Cipher Mining during the 4th quarter valued at approximately $25,000. Arax Advisory Partners increased its stake in shares of Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after buying an additional 1,338 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Cipher Mining in the fourth quarter valued at $28,000. Finally, Danske Bank A S raised its holdings in Cipher Mining by 1,150.0% in the fourth quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after acquiring an additional 2,300 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Stock Performance

Shares of CIFR opened at $23.15 on Monday. The stock has a market capitalization of $9.47 billion, a PE ratio of -9.94 and a beta of 3.18. The business’s fifty day moving average price is $23.27 and its 200 day moving average price is $18.93. 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 12-month low of $4.55 and a 12-month high of $30.14.

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 business had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. Equities research analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CIFR. Rosenblatt Securities reissued a “buy” rating and set a $30.00 price objective on shares of Cipher Mining in a report on Thursday, June 25th. Sanford C. Bernstein assumed coverage on shares of Cipher Mining in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price for the company. BTIG Research upped their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. HC Wainwright increased their price target on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus price target of $28.44.

Insiders Place Their Bets

In related news, COO Patrick Arthur Kelly sold 48,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total transaction of $929,280.00. Following the sale, the chief operating officer owned 1,451,856 shares in the company, valued at $28,107,932.16. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holding Ltd V3 sold 1,800,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total transaction of $47,916,000.00. Following the completion of the transaction, the insider directly owned 59,516,694 shares in the company, valued at $1,584,334,394.28. This represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,245,336 shares of company stock worth $83,803,938. Corporate insiders own 2.63% of the company’s stock.

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.