Maridea Wealth Management LLC Decreases Holdings in Cipher Mining Inc. $CIFR

Maridea Wealth Management LLC trimmed its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 22.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 509,856 shares of the company’s stock after selling 151,709 shares during the quarter. Cipher Mining makes up 1.0% of Maridea Wealth Management LLC’s holdings, making the stock its 19th largest holding. Maridea Wealth Management LLC’s holdings in Cipher Mining were worth $6,419,000 at the end of the most recent reporting period.

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

Cipher Mining Stock Down 4.8%

CIFR opened at $15.64 on Wednesday. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of -86.89 and a beta of 2.95. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The firm’s fifty day moving average is $16.52 and its 200 day moving average is $14.71. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $25.52.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CIFR. HC Wainwright raised their price objective on shares of Cipher Mining to $30.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Northland Securities set a $27.50 price target on shares of Cipher Mining in a research report on Tuesday, November 4th. Macquarie Infrastructure boosted their price objective on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. BTIG Research restated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.11.

Insiders Place Their Bets

In other Cipher Mining news, Director Cary M. Grossman sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.00, for a total transaction of $475,000.00. Following the completion of the sale, the director directly owned 200,530 shares of the company’s stock, valued at $3,810,070. This trade represents a 11.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James E. Newsome sold 21,821 shares of Cipher Mining stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $16.03, for a total transaction of $349,790.63. Following the sale, the director owned 172,492 shares in the company, valued at approximately $2,765,046.76. The trade was a 11.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 182,825 shares of company stock valued at $3,075,820. 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.