Cipher Mining Inc. $CIFR Shares Bought by Private Advisor Group LLC

Key Points

• Private Advisor Group LLC boosted its position in Cipher Mining (NASDAQ:CIFR) by 15.7% to 1,789,462 shares (~$22.53M), while institutional investors own 12.26% of the company and Vanguard holds a large stake of 22,814,653 shares (~$287.24M).
• Analysts are broadly positive with a consensus rating of "Moderate Buy" and a consensus target of $24.46; Morgan Stanley started coverage with an "Overweight" rating and a $38 price target, and overall there are 14 Buy, 1 Hold and 2 Sell ratings.
• Company insiders sold 187,986 shares (~$3.03M) in the past three months, and Cipher Mining trades with a market cap of $5.80B, a negative PE of -6.63, and a 1‑year range of $1.86–$25.52 (recent open $14.31).

Private Advisor Group LLC grew its position in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,789,462 shares of the company's stock after buying an additional 242,894 shares during the quarter. Private Advisor Group LLC owned 0.45% of Cipher Mining worth $22,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CIFR. JPMorgan Chase & Co. grew its stake in Cipher Mining by 996.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company's stock valued at $10,645,000 after acquiring an additional 2,023,994 shares during the last quarter. Thames Capital Management LLC acquired a new position in Cipher Mining during the third quarter worth about $19,070,000. Legal & General Group Plc lifted its holdings in shares of Cipher Mining by 33.4% in 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 holdings in shares of Cipher Mining by 67.5% in the second quarter. Soros Fund Management LLC now owns 1,300,000 shares of the company's stock valued at $6,214,000 after purchasing an additional 524,044 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Cipher Mining by 13.4% in 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 during the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CIFR. Canaccord Genuity Group reissued a "buy" rating and set a $27.00 price objective on shares of Cipher Mining in a research note on Monday, December 15th. Keefe, Bruyette & Woods increased their target price on Cipher Mining from $13.00 to $22.00 and gave the company a "moderate buy" rating in a report on Tuesday, January 27th. Citizens Jmp set a $30.00 price target on Cipher Mining in a research report on Wednesday, November 19th. HC Wainwright cut their price target on Cipher Mining to $25.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Morgan Stanley started coverage on Cipher Mining in a research report on Monday, February 9th. They issued an "overweight" rating and a $38.00 price objective on the stock. 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.com, Cipher Mining currently has an average rating of "Moderate Buy" and a consensus target price of $24.46.

Insiders Place Their Bets

In other Cipher Mining news, COO Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $17.76, for a total value of $631,687.68. Following the completion of the sale, the chief operating officer directly owned 1,512,644 shares of the company's stock, valued at approximately $26,864,557.44. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Newsome sold 45,161 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total value of $710,834.14. Following the completion of the transaction, the director owned 127,331 shares of the company's stock, valued at $2,004,189.94. This trade represents a 26.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 187,986 shares of company stock valued at $3,030,554. Company insiders own 2.63% of the company's stock.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $14.31 on Tuesday. The firm has a 50 day simple moving average of $16.36 and a 200-day simple moving average of $15.72. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.79 and a quick ratio of 3.79. The firm has a market cap of $5.80 billion, a PE ratio of -6.63 and a beta of 2.96. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $25.52.

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.

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