Pictet Asset Management Holding SA Has $2.67 Million Position in Cipher Mining Inc. $CIFR

Pictet Asset Management Holding SA boosted its stake in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 336.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 181,098 shares of the company’s stock after buying an additional 139,567 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cipher Mining were worth $2,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC lifted its holdings in Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after buying an additional 804 shares during the period. GAMMA Investing LLC lifted its holdings in Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Cipher Mining by 26.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock worth $104,000 after buying an additional 1,468 shares during the period. DKM Wealth Management Inc. lifted its stake in shares of Cipher Mining by 15.1% in the 4th quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock valued at $212,000 after purchasing an additional 1,886 shares during the period. Finally, Sherman Asset Management Inc. acquired a new position in shares of Cipher Mining in the 3rd quarter valued at about $25,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIFR has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Cipher Mining in a research note on Wednesday, March 25th. Wall Street Zen downgraded Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Morgan Stanley reissued an “overweight” rating and issued a $40.50 price objective on shares of Cipher Mining in a research note on Monday, April 27th. Keefe, Bruyette & Woods dropped their price objective on Cipher Mining from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 11th. Finally, Cantor Fitzgerald dropped their price objective on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Cipher Mining Stock Performance

Shares of CIFR opened at $17.89 on Tuesday. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79. The stock has a 50 day moving average price of $15.64 and a two-hundred day moving average price of $16.79. The firm has a market capitalization of $7.26 billion, a P/E ratio of -8.28 and a beta of 3.13. Cipher Mining Inc. has a 52 week low of $2.88 and a 52 week high of $25.52.

Insider Buying and Selling

In other Cipher Mining news, Director Cary M. Grossman sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $14.54, for a total transaction of $436,200.00. Following the completion of the sale, the director directly owned 170,530 shares of the company’s stock, valued at approximately $2,479,506.20. The trade was a 14.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Patrick Arthur Kelly sold 35,568 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $14.98, for a total value of $532,808.64. Following the sale, the chief operating officer directly owned 1,441,508 shares of the company’s stock, valued at $21,593,789.84. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 148,229 shares of company stock valued at $2,283,968. Company 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.