Engle Capital Management L.P. Makes New Investment in Cipher Mining Inc. $CIFR

Engle Capital Management L.P. acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the fourth quarter, HoldingsChannel reports. The fund acquired 71,800 shares of the company’s stock, valued at approximately $1,060,000. Cipher Mining comprises about 0.4% of Engle Capital Management L.P.’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in CIFR. Millennium Management LLC bought a new stake in Cipher Mining during the 1st quarter worth about $9,316,000. Goldman Sachs Group Inc. grew its holdings in Cipher Mining by 52.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after acquiring an additional 1,610,073 shares during the last quarter. Franklin Resources Inc. bought a new stake in Cipher Mining during the 2nd quarter worth about $98,000. Prudential Financial Inc. grew its holdings in Cipher Mining by 113.7% during the 2nd quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock worth $151,000 after acquiring an additional 16,810 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Cipher Mining by 65.2% during the 2nd quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock worth $142,000 after acquiring an additional 11,725 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CIFR. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Keefe, Bruyette & Woods increased their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Jefferies Financial Group began coverage on Cipher Mining in a research note on Thursday, May 14th. They set a “buy” rating and a $32.00 price target on the stock. Cantor Fitzgerald cut their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.69.

Cipher Mining Stock Performance

Shares of Cipher Mining stock opened at $26.35 on Thursday. The firm has a fifty day moving average of $20.89 and a two-hundred day moving average of $17.75. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of -11.31 and a beta of 3.18. Cipher Mining Inc. has a 52 week low of $3.29 and a 52 week high of $28.62. 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 issued 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 company’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, equities research analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current year.

Insider Activity at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 48,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total transaction of $929,280.00. Following the completion of the sale, the chief operating officer owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. The trade was a 3.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Tyler Page sold 37,500 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total transaction of $604,125.00. Following the sale, the chief executive officer owned 8,263,862 shares of the company’s stock, valued at $133,130,816.82. The trade was a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,178,236 shares of company stock worth $81,848,926. 2.63% of the stock is owned by company 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.