Monashee Investment Management LLC Reduces Holdings in Cipher Mining Inc. $CIFR

Monashee Investment Management LLC lowered its position in shares of Cipher Mining Inc. (NASDAQ:CIFR) by 83.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,000 shares of the company’s stock after selling 750,000 shares during the period. Monashee Investment Management LLC’s holdings in Cipher Mining were worth $1,888,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CIFR shares. Keefe, Bruyette & Woods lifted their price objective on Cipher Mining from $13.00 to $22.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $12.00 to $18.00 in a research report on Monday, November 24th. Rosenblatt Securities upped their target price on Cipher Mining to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research note on Wednesday, November 5th. Finally, HC Wainwright cut their price objective on Cipher Mining to $25.00 and set a “buy” rating on the stock in a report on Wednesday. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.46.

Insider Activity

In other news, Director James E. Newsome sold 21,821 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $16.03, for a total value of $349,790.63. Following the completion of the sale, the director directly owned 172,492 shares in the company, valued at approximately $2,765,046.76. The trade was a 11.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wesley Hastie Williams sold 49,867 shares of Cipher Mining stock in a transaction on Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the completion of the transaction, the director directly owned 158,145 shares of the company’s stock, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 142,825 shares of company stock worth $2,319,720. 2.63% of the stock is currently owned by corporate insiders.

Cipher Mining Stock Performance

Shares of CIFR opened at $15.60 on Friday. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of -7.22 and a beta of 2.95. The business’s 50 day moving average is $16.46 and its two-hundred day moving average is $15.25. The company has a quick ratio of 2.49, a current ratio of 3.79 and a debt-to-equity ratio of 3.37. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $25.52.

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.