Cantor Fitzgerald L. P. Sells 617,979 Shares of Cipher Mining Inc. $CIFR

Cantor Fitzgerald L. P. lessened its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 79.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,131 shares of the company’s stock after selling 617,979 shares during the period. Cantor Fitzgerald L. P.’s holdings in Cipher Mining were worth $2,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sherman Asset Management Inc. bought a new stake in shares of Cipher Mining during the 3rd quarter worth $25,000. Hollencrest Capital Management bought a new position in Cipher Mining during the third quarter valued at approximately $31,000. Peterson Wealth Services bought a new position in shares of Cipher Mining during the 3rd quarter valued at $41,000. Steward Partners Investment Advisory LLC grew its stake 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 bought a new position in Cipher Mining during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CIFR shares. Canaccord Genuity Group reissued a “buy” rating and set a $27.00 price target on shares of Cipher Mining in a research report on Monday, December 15th. Needham & Company LLC dropped their target price on shares of Cipher Mining to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research note on Monday, December 29th. Keefe, Bruyette & Woods lowered their price target on Cipher Mining from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $12.00 to $18.00 in a report on Monday, November 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.32.

Cipher Mining Stock Down 2.8%

Shares of NASDAQ CIFR opened at $14.67 on Thursday. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 3.37. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $25.52. The firm has a market capitalization of $5.94 billion, a PE ratio of -6.79 and a beta of 2.96. The firm has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $16.02.

Insider Activity

In other Cipher Mining news, COO Patrick Arthur Kelly sold 35,568 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer directly owned 1,512,644 shares in the company, valued at $26,864,557.44. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $16.08, for a total value of $801,861.36. Following the sale, the director directly owned 158,145 shares in the company, valued at approximately $2,542,971.60. The trade was a 23.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 152,417 shares of company stock valued at $2,494,174. Corporate insiders own 2.63% of the company’s stock.

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.