Caitong International Asset Management Co. Ltd Invests $779,000 in Cipher Mining Inc. $CIFR

Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 61,837 shares of the company’s stock, valued at approximately $779,000. Cipher Mining makes up approximately 0.5% of Caitong International Asset Management Co. Ltd’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds also recently bought and sold shares of CIFR. Sherman Asset Management Inc. bought a new stake in Cipher Mining during the 3rd quarter valued at about $25,000. Hollencrest Capital Management bought a new position in shares of Cipher Mining in the third quarter worth approximately $31,000. Peterson Wealth Services bought a new position in shares of Cipher Mining in the third quarter worth approximately $41,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Cipher Mining by 258.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after buying an additional 6,516 shares during the last quarter. Finally, Maripau Wealth Management LLC purchased a new stake in shares of Cipher Mining during the second quarter valued at approximately $48,000. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Down 0.3%

Shares of Cipher Mining stock opened at $15.09 on Wednesday. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 3.37. The company’s 50 day moving average is $16.16 and its 200 day moving average is $16.03. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -6.99 and a beta of 2.96.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CIFR shares. HC Wainwright decreased their price objective on shares of Cipher Mining to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Wells Fargo & Company set a $18.00 target price on Cipher Mining in a report on Monday, November 24th. Wall Street Zen cut Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. Finally, Zacks Research cut Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.32.

Insider Activity

In other Cipher Mining news, Director James E. Newsome sold 45,161 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.74, for a total value of $710,834.14. Following the transaction, the director owned 127,331 shares of the company’s stock, valued at approximately $2,004,189.94. This represents a 26.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Arthur Kelly sold 35,568 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $17.76, for a total value of $631,687.68. Following the completion of the transaction, the chief operating officer directly owned 1,512,644 shares in the company, valued at $26,864,557.44. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 152,417 shares of company stock valued at $2,494,174 in the last ninety days. 2.63% of the stock is currently owned by company 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.