London & Capital Asset Management Ltd Takes $944,000 Position in Cipher Mining Inc. $CIFR

London & Capital Asset Management Ltd acquired a new position in Cipher Mining Inc. (NASDAQ:CIFR) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 75,000 shares of the company’s stock, valued at approximately $944,000.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings 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 in the last quarter. Thames Capital Management LLC acquired a new stake in shares of Cipher Mining during the 3rd quarter worth approximately $19,070,000. Legal & General Group Plc increased its position in shares of Cipher Mining by 33.4% during 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 during the period. Soros Fund Management LLC raised its stake 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, Two Seas Capital LP bought a new position in Cipher Mining in the second quarter worth $1,195,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Stock Down 5.3%

CIFR opened at $15.60 on Monday. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of -7.22 and a beta of 2.96. 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 firm’s 50-day simple moving average is $16.46 and its 200-day simple moving average is $15.33. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52.

Insiders Place Their Bets

In other news, Director James E. Newsome sold 21,821 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $16.03, for a total transaction of $349,790.63. Following the completion of the sale, the director owned 172,492 shares of the company’s stock, valued at approximately $2,765,046.76. This trade represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $631,687.68. Following the completion of the transaction, the chief operating officer owned 1,512,644 shares of the company’s stock, valued at $26,864,557.44. This trade represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 142,825 shares of company stock valued at $2,319,720. 2.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CIFR has been the topic of several analyst reports. Citizens Jmp set a $30.00 price target on shares of Cipher Mining in a report on Wednesday, November 19th. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday. Wells Fargo & Company set a $18.00 target price on shares of Cipher Mining in a research note on Monday, November 24th. HC Wainwright cut their price target on shares of Cipher Mining to $25.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining currently has a consensus rating of “Moderate Buy” and an average price target of $24.46.

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.