Sei Investments Co. Has $1.34 Million Stock Holdings in Cipher Mining Inc. $CIFR

Sei Investments Co. boosted its holdings in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 174.4% during the first quarter, HoldingsChannel reports. The fund owned 104,260 shares of the company’s stock after purchasing an additional 66,267 shares during the quarter. Sei Investments Co.’s holdings in Cipher Mining were worth $1,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CIFR. Los Angeles Capital Management LLC bought a new position in shares of Cipher Mining during the fourth quarter valued at $25,000. Arax Advisory Partners grew 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 purchasing an additional 1,338 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Cipher Mining in the fourth quarter valued at $28,000. Danske Bank A S increased 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 purchasing an additional 2,300 shares during the period. Finally, CWM LLC raised its position in Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on CIFR shares. Chardan Capital reaffirmed a “buy” rating and set a $32.00 target price on shares of Cipher Mining in a report on Tuesday, August 4th. BTIG Research lifted their price objective on Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $30.00 target price on shares of Cipher Mining in a report on Wednesday, August 5th. Sanford C. Bernstein assumed coverage on shares of Cipher Mining in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Cipher Mining from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cipher Mining presently has an average rating of “Moderate Buy” and an average target price of $28.61.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $17.21 on Wednesday. The company has a market capitalization of $7.14 billion, a PE ratio of -6.02 and a beta of 3.20. 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’s 50 day moving average price is $22.61 and its 200-day moving average price is $19.11. Cipher Mining Inc. has a twelve month low of $4.67 and a twelve month high of $30.14.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $31.86 million. Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%.During the same quarter last year, the business posted ($0.12) earnings per share. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.9 EPS for the current year.

Insider Activity at Cipher Mining

In other Cipher Mining news, CEO Tyler Page sold 112,500 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.19, for a total value of $2,383,875.00. Following the sale, the chief executive officer directly owned 9,084,225 shares in the company, valued at $192,494,727.75. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,145,825 shares of company stock worth $81,741,167. 3.09% of the stock is owned by company 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.