Cipher Digital extended its rally for a second day on Tuesday, surging 19 percent in intra-day trading to claw back to the $24 level, as investors resumed buying positions ahead of its second-quarter earnings release.
Based on its historical reporting dates, Cipher Digital Inc. (NASDAQ:CIFR) is set to announce its earnings performance in the second week of August 2026.
Last year, second quarter earnings were announced on August 7.
For illustration purposes only. Photo by Brett Sayles on Pexels
Hedge Fund Participation Rises, But Conviction Weaker
More institutional investors appeared to have positioned themselves for Cipher Digital Inc.’s (NASDAQ:CIFR) growth prospects, although overall conviction remained limited.
Data from Insider Monkey showed that a total of 49 hedge funds held positions in the company as of the end of the first quarter, up from 43 in the quarter prior.
However, conviction turned weaker, with combined positions only totaling $745 million, or a decline of 12.7 percent from the $853 million in the fourth quarter of 2025.
The ownership signaled that while more funds initiated exposure to the company, sizes were generally smaller, reflecting a more cautious stance rather than strong conviction.
Ardsley Partners remains the company’s largest hedge fund holding with $9.18 million in shares.
Moody Aldrich Partners followed with $7.2 million shares, while Y-Intercept (Hong Kong) Ltd. came third with worth $6.27 million shares.
Strong Buy
Cipher Digital Inc. (NASDAQ:CIFR) maintains a strong buy recommendation from 15 analysts.
Among the most recent include coverages from Bernstein and Rosenblatt, which both reiterated a “buy” recommendation on Cipher Digital Inc.’s (NASDAQ:CIFR) shares.
Bernstein also reaffirmed a $32 price target for its stock, while Rosenblatt assigned a $30 target.
CEO Trims Positions
In other news, the company’s CEO, Tyler Page, told the Securities and Exchange Commission earlier this month that he disposed of $4.9 million worth of shares in the company in separate transactions on July 8 and 9.
On July 8, Page sold 112,500 shares at a price of $21.19, followed by another 112,500 shares on July 9 at a price of $22.68.
The sales reported were pursuant to a Rule 10b5-1 trading plan adopted by Page on December 19, 2025.
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Disclosure: None.
