Intech Investment Management LLC Has $1.02 Million Stock Holdings in Cipher Mining Inc. $CIFR

Intech Investment Management LLC decreased its position in Cipher Mining Inc. (NASDAQ:CIFR) by 47.6% during the third quarter, HoldingsChannel reports. The firm owned 81,291 shares of the company’s stock after selling 73,912 shares during the quarter. Intech Investment Management LLC’s holdings in Cipher Mining were worth $1,023,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sherman Asset Management Inc. acquired a new position in Cipher Mining in the 3rd quarter valued at $25,000. Hollencrest Capital Management bought a new position in Cipher Mining in the 3rd quarter worth $31,000. Peterson Wealth Services acquired a new position in Cipher Mining during the 3rd quarter worth $41,000. Steward Partners Investment Advisory LLC boosted its holdings in 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 acquiring an additional 6,516 shares during the period. Finally, Maripau Wealth Management LLC bought a new stake in Cipher Mining during the second quarter valued at about $48,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CIFR. Citigroup began coverage on Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating on the stock. Wall Street Zen downgraded 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. Wells Fargo & Company set a $18.00 price target on Cipher Mining in a research report on Monday, November 24th. Finally, Citizens Jmp set a $30.00 price target on Cipher Mining in a report on Wednesday, November 19th. Fourteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.46.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $13.62 on Friday. The firm’s 50-day moving average is $16.37 and its 200-day moving average is $15.59. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $25.52. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79. The company has a market cap of $5.52 billion, a price-to-earnings ratio of -6.31 and a beta of 2.96.

Insider Activity at Cipher Mining

In related news, Director Wesley Hastie Williams sold 49,867 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the transaction, the director directly owned 158,145 shares in the company, valued at $2,542,971.60. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick Arthur Kelly sold 35,568 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were 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 of the company’s stock, valued at approximately $26,864,557.44. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 187,986 shares of company stock worth $3,030,554. Company insiders own 2.63% of the company’s stock.

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.