Cipher Mining Inc. $CIFR Stake Reduced by Monashee Investment Management LLC

Monashee Investment Management LLC trimmed its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 83.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 150,000 shares of the company’s stock after selling 750,000 shares during the quarter. Monashee Investment Management LLC’s holdings in Cipher Mining were worth $1,888,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Cipher Mining by 996.9% during the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock worth $10,645,000 after buying an additional 2,023,994 shares during the period. Thames Capital Management LLC bought a new stake in shares of Cipher Mining during the third quarter valued at about $19,070,000. Legal & General Group Plc raised its stake in shares of Cipher Mining by 33.4% during the second quarter. Legal & General Group Plc now owns 298,446 shares of the company’s stock valued at $1,427,000 after purchasing an additional 74,744 shares in the last quarter. Soros Fund Management LLC lifted its stake in shares of Cipher Mining by 67.5% in the 2nd quarter. Soros Fund Management LLC now owns 1,300,000 shares of the company’s stock worth $6,214,000 after acquiring an additional 524,044 shares during the period. Finally, Two Seas Capital LP acquired a new stake in Cipher Mining in the second quarter worth approximately $1,195,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cipher Mining news, COO Patrick Arthur Kelly sold 35,568 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was 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 owned 1,512,644 shares of the company’s stock, valued at $26,864,557.44. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal 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 stock was 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 $2,542,971.60. The trade was a 23.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 142,825 shares of company stock valued at $2,319,720 over the last three months. 2.63% of the stock is owned by corporate insiders.

Cipher Mining Stock Down 5.3%

CIFR opened at $15.60 on Friday. The company has a current ratio of 3.79, a quick ratio of 2.49 and a debt-to-equity ratio of 3.37. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -7.22 and a beta of 2.95. The business has a 50 day moving average of $16.46 and a 200-day moving average of $15.25. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $25.52.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CIFR shares. HC Wainwright cut their price target on shares of Cipher Mining to $25.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research report on Monday, December 29th. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.00 to $18.00 in a report on Monday, November 24th. Needham & Company LLC reduced their price objective on Cipher Mining to $22.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BTIG Research reiterated a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a research note on Wednesday, November 5th. Fourteen 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.46.

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.