46,810 Shares in Cipher Mining Inc. $CIFR Purchased by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC acquired a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 46,810 shares of the company’s stock, valued at approximately $589,000. Cipher Mining makes up 0.2% of Abich Financial Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position.

Other large investors also recently modified their holdings of the company. Sherman Asset Management Inc. bought a new position in shares of Cipher Mining during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management acquired a new position in Cipher Mining during the third quarter worth $31,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Cipher Mining by 10.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,247 shares of the company’s stock valued at $368,000 after acquiring an additional 2,659 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Cipher Mining by 7.9% during the second quarter. Teacher Retirement System of Texas now owns 38,281 shares of the company’s stock valued at $183,000 after acquiring an additional 2,812 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Cipher Mining by 4.4% in the 3rd quarter. Arizona State Retirement System now owns 76,841 shares of the company’s stock valued at $967,000 after purchasing an additional 3,206 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Performance

Shares of Cipher Mining stock opened at $16.10 on Friday. The firm has a fifty day moving average of $16.72 and a two-hundred day moving average of $14.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of -89.44 and a beta of 2.95. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $25.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CIFR shares. Rosenblatt Securities increased their target price on shares of Cipher Mining to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. JMP Securities set a $30.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 19th. Wells Fargo & Company set a $18.00 target price on shares of Cipher Mining in a research note on Monday, November 24th. BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a report on Wednesday, November 5th. Finally, Macquarie Infrastructure increased their price target on Cipher Mining from $16.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.43.

Insiders Place Their Bets

In related news, Director Wesley Hastie Williams sold 49,867 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the sale, the director owned 158,145 shares in the company, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Cary M. Grossman sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $19.00, for a total value of $475,000.00. Following the transaction, the director owned 200,530 shares in the company, valued at approximately $3,810,070. This trade represents a 11.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 235,985 shares of company stock valued at $3,830,692 in the last ninety days. 2.63% of the stock is currently owned by insiders.

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.