Graham Capital Management L.P. Acquires New Stake in Cipher Mining Inc. $CIFR

Graham Capital Management L.P. acquired a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the fourth quarter, Holdings Channel reports. The firm acquired 2,258,042 shares of the company’s stock, valued at approximately $33,329,000. Cipher Mining comprises 0.8% of Graham Capital Management L.P.’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Cipher Mining by 13.4% in the third quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock worth $287,236,000 after buying an additional 2,699,717 shares during the last quarter. American Century Companies Inc. grew its position in Cipher Mining by 138.2% in the third quarter. American Century Companies Inc. now owns 1,406,864 shares of the company’s stock worth $17,712,000 after buying an additional 816,198 shares during the last quarter. HighTower Advisors LLC grew its position in Cipher Mining by 16.6% in the fourth quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock worth $9,915,000 after buying an additional 95,686 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Cipher Mining in the fourth quarter worth approximately $667,000. Finally, Tyche Wealth Partners LLC grew its position in Cipher Mining by 119.0% in the fourth quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company’s stock worth $1,697,000 after buying an additional 62,500 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CIFR. HC Wainwright lifted 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. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. Sanford C. Bernstein began coverage on shares of Cipher Mining in a research report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price target on the stock. Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Finally, Morgan Stanley cut their price target on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cipher Mining has an average rating of “Moderate Buy” and an average target price of $27.69.

Insiders Place Their Bets

In other news, Director Cary M. Grossman sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $21.82, for a total value of $436,400.00. Following the completion of the sale, the director owned 150,530 shares of the company’s stock, valued at $3,284,564.60. This trade represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Patrick Arthur Kelly sold 48,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the completion of the sale, the chief operating officer directly owned 1,451,856 shares of the company’s stock, valued at approximately $28,107,932.16. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,178,236 shares of company stock valued at $81,848,926 over the last quarter. 2.63% of the stock is owned by insiders.

Cipher Mining Stock Performance

Shares of Cipher Mining stock opened at $26.21 on Wednesday. The stock has a market cap of $10.72 billion, a PE ratio of -11.25 and a beta of 3.18. The business has a fifty day simple moving average of $20.63 and a 200-day simple moving average of $17.70. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $28.62.

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 during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The firm’s revenue was down 28.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

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.