Maridea Wealth Management LLC Trims Stake in Cipher Mining Inc. $CIFR

Maridea Wealth Management LLC reduced its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 22.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,856 shares of the company’s stock after selling 151,709 shares during the period. Cipher Mining accounts for 1.0% of Maridea Wealth Management LLC’s portfolio, making the stock its 19th largest position. Maridea Wealth Management LLC owned approximately 0.13% of Cipher Mining worth $6,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC purchased a new position in shares of Cipher Mining during the 1st quarter worth approximately $9,316,000. Vanguard Group Inc. boosted its position in shares of Cipher Mining by 13.4% during the third quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock valued at $287,236,000 after purchasing an additional 2,699,717 shares in the last quarter. 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 valued at $10,645,000 after purchasing an additional 2,023,994 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Cipher Mining by 52.4% in the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after purchasing an additional 1,610,073 shares during the period. Finally, Tidal Investments LLC raised its holdings in Cipher Mining by 28.3% in the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after purchasing an additional 1,541,138 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cipher Mining

In related news, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the sale, the director directly owned 158,145 shares in the company, valued at approximately $2,542,971.60. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Newsome sold 21,821 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.03, for a total value of $349,790.63. Following the completion of the transaction, the director directly owned 172,492 shares of the company’s stock, valued at approximately $2,765,046.76. This trade represents a 11.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 182,825 shares of company stock valued at $3,075,820. Insiders own 2.63% of the company’s stock.

Cipher Mining Price Performance

Shares of NASDAQ CIFR opened at $15.64 on Wednesday. The firm has a market cap of $6.18 billion, a P/E ratio of -86.89 and a beta of 2.95. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31. The company has a 50 day moving average of $16.52 and a 200 day moving average of $14.71.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CIFR. Canaccord Genuity Group reissued a “buy” rating and set a $27.00 price objective on shares of Cipher Mining in a research report on Monday, December 15th. Northland Securities set a $27.50 price target on shares of Cipher Mining in a research note on Tuesday, November 4th. Morgan Stanley began coverage on shares of Cipher Mining in a research note on Monday, February 9th. They set an “overweight” rating and a $38.00 price objective on the stock. Citigroup started coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They issued an “outperform” rating on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $25.00 target price on shares of Cipher Mining in a research note on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average price target of $25.11.

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.