BIT Capital GmbH Trims Stake in Cipher Mining Inc. $CIFR

BIT Capital GmbH decreased its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 71.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,439,683 shares of the company’s stock after selling 6,139,344 shares during the period. Cipher Mining accounts for approximately 1.0% of BIT Capital GmbH’s portfolio, making the stock its 28th biggest holding. BIT Capital GmbH owned about 0.62% of Cipher Mining worth $30,716,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CIFR. Sherman Asset Management Inc. purchased a new stake in shares of Cipher Mining in the third quarter valued at about $25,000. Hollencrest Capital Management purchased a new stake in Cipher Mining during the 3rd quarter valued at approximately $31,000. Peterson Wealth Services acquired a new stake in Cipher Mining during the 3rd quarter worth approximately $41,000. Steward Partners Investment Advisory LLC grew its stake in shares of Cipher Mining by 258.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after purchasing an additional 6,516 shares during the last quarter. Finally, Maripau Wealth Management LLC acquired a new position in shares of Cipher Mining in the second quarter valued at approximately $48,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cipher Mining

In related news, Director Holly Morrow Evans sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $18.74, for a total value of $281,100.00. Following the sale, the director directly owned 195,512 shares in the company, valued at $3,663,894.88. The trade was a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Arthur Kelly sold 35,569 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $15.08, for a total transaction of $536,380.52. Following the transaction, the chief operating officer owned 1,151,770 shares of the company’s stock, valued at $17,368,691.60. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 182,825 shares of company stock worth $3,075,820. Insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CIFR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research report on Monday, December 29th. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research report on Wednesday, November 5th. HC Wainwright boosted their target price on Cipher Mining to $30.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wall Street Zen downgraded Cipher Mining from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Citizens Jmp set a $30.00 price objective on Cipher Mining in a research report on Wednesday, November 19th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cipher Mining has a consensus rating of “Moderate Buy” and a consensus target price of $25.11.

Cipher Mining Stock Performance

CIFR opened at $15.80 on Friday. The stock’s 50 day simple moving average is $16.40 and its 200 day simple moving average is $14.72. The stock has a market cap of $6.24 billion, a P/E ratio of -87.78 and a beta of 2.95. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $25.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49.

About Cipher Mining

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.