Feynman Point Asset Management LLC Decreases Holdings in Cipher Mining Inc. $CIFR

Feynman Point Asset Management LLC lowered its holdings in Cipher Mining Inc. (NASDAQ:CIFR) by 40.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,023 shares of the company’s stock after selling 64,950 shares during the period. Cipher Mining makes up 1.5% of Feynman Point Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Feynman Point Asset Management LLC’s holdings in Cipher Mining were worth $1,236,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in shares of Cipher Mining by 22.2% during the first quarter. California State Teachers Retirement System now owns 365,966 shares of the company’s stock worth $4,710,000 after purchasing an additional 66,518 shares in the last quarter. Readystate Asset Management LP purchased a new stake in Cipher Mining in the first quarter valued at approximately $2,558,000. Royal Bank of Canada raised its stake in Cipher Mining by 14.1% in the first quarter. Royal Bank of Canada now owns 408,758 shares of the company’s stock valued at $5,261,000 after purchasing an additional 50,654 shares in the last quarter. Engle Capital Management L.P. lifted its position in Cipher Mining by 982.2% during the first quarter. Engle Capital Management L.P. now owns 777,000 shares of the company’s stock valued at $10,000,000 after purchasing an additional 705,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Cipher Mining by 3.0% during the first quarter. The Manufacturers Life Insurance Company now owns 166,208 shares of the company’s stock valued at $2,139,000 after purchasing an additional 4,798 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Down 5.7%

Shares of CIFR opened at $20.42 on Wednesday. Cipher Mining Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $30.14. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of -8.76 and a beta of 3.18. The firm has a 50 day moving average price of $23.35 and a 200-day moving average price of $18.99. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS 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 firm’s quarterly revenue was down 28.8% on a year-over-year basis. As a group, equities research analysts forecast that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling at Cipher Mining

In other news, Director Wesley Hastie Williams sold 14,567 shares of the business’s 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 of the company’s stock, valued at approximately $2,470,906.69. The trade was a 11.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James E. Newsome sold 3,758 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total value of $99,962.80. Following the sale, the director owned 128,530 shares of the company’s stock, valued at $3,418,898. This represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,245,336 shares of company stock valued at $83,803,938. 2.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CIFR has been the topic of a number of research analyst reports. Cantor Fitzgerald decreased their price target on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods upped their target price on shares of Cipher Mining from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rosenblatt Securities reissued a “buy” rating and issued a $30.00 target price on shares of Cipher Mining in a research note on Thursday, June 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. Finally, Morgan Stanley cut their price objective on Cipher Mining from $48.50 to $47.00 and set an “overweight” rating for the company in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cipher Mining has a consensus rating of “Moderate Buy” and an average target price of $28.74.

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.