FORA Capital LLC Purchases New Position in Cipher Mining Inc. $CIFR

Key Points

• FORA Capital LLC acquired a new 127,619‑share position in Cipher Mining (NASDAQ: CIFR) during Q3, valued at roughly $1.607 million.
• Analysts are mixed but generally positive: Cipher carries a consensus rating of "Moderate Buy" with a consensus price target of $24.32, while individual ratings range from "strong sell" to "overweight."
• Insiders have been net sellers recently—187,986 shares worth about $3.03 million were sold in the last 90 days—while institutional ownership is ~12.26% and insiders own ~2.63% of the stock.

FORA Capital LLC acquired a new position in shares of Cipher Mining Inc. (NASDAQ:CIFR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 127,619 shares of the company's stock, valued at approximately $1,607,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sherman Asset Management Inc. purchased a new position in shares of Cipher Mining in the 3rd quarter worth approximately $25,000. Hollencrest Capital Management purchased a new stake in Cipher Mining during the 3rd quarter valued at $31,000. Peterson Wealth Services purchased a new stake in Cipher Mining during the 3rd quarter valued at $41,000. Steward Partners Investment Advisory LLC lifted its position 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 buying an additional 6,516 shares during the last quarter. Finally, Maripau Wealth Management LLC bought a new stake in Cipher Mining in the second quarter worth $48,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Stock Performance

CIFR stock opened at $14.08 on Friday. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of -6.52 and a beta of 2.96. The business's fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $15.80. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 3.37.

Wall Street Analyst Weigh In

CIFR has been the topic of a number of analyst reports. Citizens Jmp set a $30.00 price objective on shares of Cipher Mining in a research report on Wednesday, November 19th. Zacks Research lowered shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 24th. Wells Fargo & Company set a $18.00 price target on shares of Cipher Mining in a research note on Monday, November 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cipher Mining in a research report on Monday, December 29th. Finally, Morgan Stanley began coverage on shares of Cipher Mining in a research note on Monday, February 9th. They issued an "overweight" rating and a $38.00 price objective for the company. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Cipher Mining presently has an average rating of "Moderate Buy" and a consensus price target of $24.32.

Insider Transactions at Cipher Mining

In other Cipher Mining news, Director James E. Newsome sold 45,161 shares of the business's stock in a transaction dated 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 sale, the director directly owned 127,331 shares of the company's stock, valued at $2,004,189.94. The trade was a 26.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Arthur Kelly sold 35,569 shares of the company's stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $15.08, for a total transaction of $536,380.52. Following the completion of the transaction, the chief operating officer owned 1,151,770 shares in the company, valued at $17,368,691.60. This represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 187,986 shares of company stock worth $3,030,554. 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.

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