Intech Investment Management LLC Has $1.02 Million Stake in Cipher Mining Inc. $CIFR

Key Points

• Intech Investment Management trimmed its stake in Cipher Mining by 47.6%, selling 73,912 shares and ending the quarter with 81,291 shares valued at about $1.02 million, while institutional investors now own roughly 12.26% of the stock.
• Significant insider selling occurred recently—directors and executives sold a combined 187,986 shares worth about $3.03 million over the last three months, leaving corporate insiders with 2.63% ownership.
• Cipher's stock opened at $13.62 after a recent 10.1% drop, has a market cap of about $5.52 billion (1‑year range $1.86–$25.52), and carries a consensus analyst rating of “Moderate Buy” with an average price target of $24.46.

Intech Investment Management LLC trimmed its stake in Cipher Mining Inc. (NASDAQ:CIFR - Free Report) by 47.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,291 shares of the company's stock after selling 73,912 shares during the quarter. Intech Investment Management LLC's holdings in Cipher Mining were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in CIFR. Sherman Asset Management Inc. acquired a new position in Cipher Mining in the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of Cipher Mining during the 3rd quarter valued at $31,000. Peterson Wealth Services purchased a new position in shares of Cipher Mining during the 3rd quarter valued at $41,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Cipher Mining by 258.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company's stock valued at $43,000 after acquiring an additional 6,516 shares in the last quarter. Finally, Maripau Wealth Management LLC acquired a new position in shares of Cipher Mining in the second quarter worth $48,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, Director Wesley Hastie Williams sold 49,867 shares of the firm's stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the transaction, the director directly owned 158,145 shares in the company, valued at $2,542,971.60. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Patrick Arthur Kelly sold 35,569 shares of the business's stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $15.08, for a total value of $536,380.52. Following the completion of the sale, the chief operating officer directly owned 1,151,770 shares of the company's stock, valued at $17,368,691.60. This represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 187,986 shares of company stock worth $3,030,554 over the last three months. Corporate insiders own 2.63% of the company's stock.

Cipher Mining Stock Down 10.1%

Cipher Mining stock opened at $13.62 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 1-year low of $1.86 and a 1-year high of $25.52. The firm's fifty day simple moving average is $16.37 and its 200-day simple moving average is $15.59. The company has a market capitalization of $5.52 billion, a P/E ratio of -6.31 and a beta of 2.96.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Needham & Company LLC cut their price objective on Cipher Mining to $22.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a research note on Monday, December 29th. Citigroup started coverage on Cipher Mining in a research report on Wednesday, November 19th. They issued an "outperform" rating on the stock. Wall Street Zen downgraded Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $27.00 price target on shares of Cipher Mining in a research note on Monday, December 15th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of "Moderate Buy" and an average price target of $24.46.

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.

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