Soltis Investment Advisors LLC Cuts Position in Cipher Mining Inc. $CIFR

Soltis Investment Advisors LLC decreased its position in Cipher Mining Inc. (NASDAQ:CIFR) by 90.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,792 shares of the company’s stock after selling 99,436 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Cipher Mining were worth $159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd raised its position in Cipher Mining by 32.9% in the fourth quarter. Swiss Life Asset Management Ltd now owns 15,695 shares of the company’s stock valued at $232,000 after purchasing an additional 3,883 shares during the period. MGO One Seven LLC grew its stake in shares of Cipher Mining by 103.7% in the fourth quarter. MGO One Seven LLC now owns 23,895 shares of the company’s stock worth $353,000 after acquiring an additional 12,167 shares in the last quarter. Ascent Wealth Partners LLC acquired a new position in shares of Cipher Mining in the fourth quarter worth $189,000. Truist Financial Corp grew its stake in shares of Cipher Mining by 14.6% in the fourth quarter. Truist Financial Corp now owns 63,125 shares of the company’s stock worth $932,000 after acquiring an additional 8,025 shares in the last quarter. Finally, CENTRAL TRUST Co acquired a new position in shares of Cipher Mining in the fourth quarter worth $87,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $18.80 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The firm has a fifty day moving average price of $16.77 and a 200 day moving average price of $16.91. The company has a market cap of $7.69 billion, a P/E ratio of -8.07 and a beta of 3.13. Cipher Mining Inc. has a 12 month low of $3.08 and a 12 month high of $25.52.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $34.84 million for 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 company’s quarterly revenue was down 28.8% compared to the same quarter last year. Sell-side analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James E. Newsome sold 45,161 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total transaction of $710,834.14. Following the completion of the transaction, the director owned 127,331 shares in the company, valued at approximately $2,004,189.94. The trade was a 26.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Wesley Hastie Williams sold 28,169 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $22.26, for a total transaction of $627,041.94. Following the completion of the transaction, the director owned 129,976 shares of the company’s stock, valued at $2,893,265.76. This represents a 17.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 244,398 shares of company stock valued at $4,276,690. Insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CIFR. Needham & Company LLC boosted their price target on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Morgan Stanley boosted their price target on shares of Cipher Mining to $42.50 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group began coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 price target for the company. Rosenblatt Securities boosted their price target on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

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.