London & Capital Asset Management Ltd Acquires New Position in Cipher Mining Inc. $CIFR

London & Capital Asset Management Ltd acquired a new stake in Cipher Mining Inc. (NASDAQ:CIFR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 75,000 shares of the company’s stock, valued at approximately $944,000.

A number of other institutional investors also recently modified their holdings of CIFR. Sherman Asset Management Inc. purchased a new position in shares of Cipher Mining during the 3rd quarter valued at $25,000. Hollencrest Capital Management acquired a new stake in Cipher Mining during the third quarter valued at $31,000. Peterson Wealth Services purchased a new position in Cipher Mining in the third quarter valued at about $41,000. PNC Financial Services Group Inc. increased its position in Cipher Mining by 184.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,328 shares of the company’s stock worth $67,000 after purchasing an additional 3,454 shares during the last quarter. Finally, Strs Ohio acquired a new position in Cipher Mining in the 3rd quarter worth about $76,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Insider Buying and Selling

In other Cipher Mining news, Director Wesley Hastie Williams sold 49,867 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the transaction, the director owned 158,145 shares of the company’s stock, valued at $2,542,971.60. The trade was a 23.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Arthur Kelly sold 35,569 shares of the company’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 sale, 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 142,825 shares of company stock worth $2,319,720 in the last quarter. 2.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Citigroup began coverage on shares of Cipher Mining in a research note on Wednesday, November 19th. They set an “outperform” rating on the stock. Zacks Research downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Finally, Rosenblatt Securities upped their price objective on shares of Cipher Mining to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.46.

Cipher Mining Trading Down 5.3%

NASDAQ:CIFR opened at $15.60 on Monday. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $25.52. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of -7.22 and a beta of 2.96. 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 $16.46 and its 200-day moving average is $15.33.

Cipher Mining 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.