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Cipher Digital shares jump 17% before Q2 earnings
The stock rose 16.97% to $20.54 after a Friday drop to $16.13, with earnings expected in the second week of August 2026.
Cipher Digital (CIFR) climbed 16.97% on Monday to close at $20.54 per share, extending a move higher after the stock fell for five straight days and hit a three month low of $16.13 on Friday, which the article describes as a bargain hunting point.
The company is expected to report second quarter results in the second week of August 2026. Ahead of that release, more hedge funds reportedly initiated positions, though overall conviction remained limited.
According to data cited from Insider Monkey, 49 hedge funds held positions in Cipher Digital as of the first quarter, up from 43 in the prior quarter. Combined hedge fund holdings totaled $745 million, down 12.7% from $853 million in the fourth quarter of 2025, indicating smaller position sizes rather than stronger conviction.
The article also notes that Cipher Digital CEO Tyler Page told the Securities and Exchange Commission that he disposed of $4.9 million worth of shares in trades dated July 8 and July 9, selling 112,500 shares at $21.19 and another 112,500 shares at $22.68, under a Rule 10b5-1 plan adopted on December 19, 2025. Separately, the company has a strong buy recommendation from 15 analysts, including Bernstein and Rosenblatt reiterating buy calls and price targets of $32 and $30, respectively.