FORA Capital LLC Makes New $1.61 Million Investment in Cipher Mining Inc. $CIFR

FORA Capital LLC bought a new stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) in the third quarter, HoldingsChannel reports. The institutional investor bought 127,619 shares of the company’s stock, valued at approximately $1,607,000.

Several other hedge funds have also made changes to their positions in the company. Sherman Asset Management Inc. bought a new position in shares of Cipher Mining during the 3rd quarter worth $25,000. Hollencrest Capital Management purchased a new position in shares of Cipher Mining during the third quarter valued at $31,000. Peterson Wealth Services bought a new stake in shares of Cipher Mining in the third quarter valued at about $41,000. Steward Partners Investment Advisory LLC lifted its stake in Cipher Mining by 258.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after acquiring an additional 6,516 shares during the period. Finally, Maripau Wealth Management LLC purchased a new stake in Cipher Mining in the second quarter worth about $48,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cipher Mining

In related news, Director James E. Newsome sold 45,161 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total transaction of $710,834.14. Following the completion of the sale, the director owned 127,331 shares of the company’s stock, valued at $2,004,189.94. This represents a 26.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick Arthur Kelly sold 35,569 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $15.08, for a total transaction of $536,380.52. Following the completion of the sale, the chief operating officer owned 1,151,770 shares of the company’s stock, valued at approximately $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 a total of 187,986 shares of company stock valued at $3,030,554 in the last 90 days. Insiders own 2.63% of the company’s stock.

Cipher Mining Stock Performance

Shares of Cipher Mining stock opened at $14.08 on Friday. The company has a market capitalization of $5.70 billion, a PE ratio of -6.52 and a beta of 2.96. The company has a 50-day simple moving average of $16.27 and a two-hundred day simple moving average of $15.80. Cipher Mining Inc. has a one year low of $1.86 and a one year 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.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CIFR shares. Zacks Research downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Wall Street Zen cut shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. Citizens Jmp set a $30.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 19th. Wells Fargo & Company set a $18.00 price objective on shares of Cipher Mining in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $12.00 to $18.00 in a research note on Monday, November 24th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.32.

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.