Bosman Wealth Management LLC Invests $1.05 Million in Cipher Mining Inc. $CIFR

Key Points

• Bosman Wealth Management opened a new position of 70,767 shares in Cipher Mining, valued at about $1.045 million, representing roughly 0.9% of its portfolio and the fund's 29th largest holding.
• Significant insider selling has occurred recently: Director Cary M. Grossman sold 30,000 shares and CEO Tyler Page sold 37,500 shares, with insiders offloading 148,229 shares (~$2.28M) in the past 90 days and now owning 2.63% of the stock.
• Analyst sentiment is mixed but the consensus is a "Moderate Buy" with a $24.82 price target; the stock trades with high volatility (beta ~3.01) and a market cap near $7.85 billion.

Bosman Wealth Management LLC bought a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 70,767 shares of the company's stock, valued at approximately $1,045,000. Cipher Mining makes up approximately 0.9% of Bosman Wealth Management LLC's investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors have also made changes to their positions in the company. CWM LLC lifted its position in shares of Cipher Mining by 43.3% during the fourth quarter. CWM LLC now owns 2,661 shares of the company's stock worth $39,000 after purchasing an additional 804 shares in the last quarter. Tyche Wealth Partners LLC increased its stake in shares of Cipher Mining by 119.0% in the fourth quarter. Tyche Wealth Partners LLC now owns 115,000 shares of the company's stock worth $1,697,000 after buying an additional 62,500 shares during the last quarter. Sippican Capital Advisors increased its stake in shares of Cipher Mining by 151.2% in the fourth quarter. Sippican Capital Advisors now owns 52,750 shares of the company's stock worth $779,000 after buying an additional 31,750 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Cipher Mining in the fourth quarter worth $55,000. Finally, Rathbones Group PLC bought a new stake in shares of Cipher Mining in the fourth quarter worth $159,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Stock Up 11.7%

Shares of NASDAQ:CIFR opened at $19.37 on Friday. The company has a current ratio of 3.79, a quick ratio of 3.79 and a debt-to-equity ratio of 3.37. Cipher Mining Inc. has a 12-month low of $2.32 and a 12-month high of $25.52. The company has a fifty day simple moving average of $15.28 and a 200 day simple moving average of $16.69. The firm has a market cap of $7.85 billion, a PE ratio of -8.97 and a beta of 3.01.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, Director Cary M. Grossman sold 30,000 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $14.54, for a total transaction of $436,200.00. Following the completion of the sale, the director owned 170,530 shares in the company, valued at $2,479,506.20. The trade was a 14.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tyler Page sold 37,500 shares of the business's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total transaction of $604,125.00. Following the sale, the chief executive officer owned 8,263,862 shares of the company's stock, valued at approximately $133,130,816.82. The trade was a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 148,229 shares of company stock worth $2,283,968 in the last ninety days. 2.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CIFR has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. Needham & Company LLC restated a "buy" rating and issued a $22.00 price target on shares of Cipher Mining in a research note on Wednesday, March 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a research note on Friday, March 27th. Zacks Research upgraded shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. Finally, Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Cipher Mining has a consensus rating of "Moderate Buy" and a consensus price target of $24.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.