Cipher Mining (NASDAQ:CIFR) Director Sells $281,100.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Holly Morrow Evans sold 15,000 shares of Cipher Mining stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $18.74, for a total transaction of $281,100.00. Following the sale, the director owned 195,512 shares in the company, valued at approximately $3,663,894.88. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Holly Morrow Evans also recently made the following trade(s):

• On Wednesday, November 12th, Holly Morrow Evans sold 16,269 shares of Cipher Mining stock. The shares were sold at an average price of $17.39, for a total transaction of $282,917.91.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $20.34 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $25.52. The firm has a market cap of $8.03 billion, a PE ratio of -112.97 and a beta of 2.91. The firm’s fifty day moving average is $17.35 and its 200-day moving average is $9.83.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $106.69 million during the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. Sell-side analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CIFR. Sherman Asset Management Inc. acquired a new stake in Cipher Mining in the third quarter worth $25,000. Stoneridge Investment Partners LLC bought a new position in shares of Cipher Mining during the 1st quarter worth about $29,000. Hollencrest Capital Management bought a new position in shares of Cipher Mining during the 3rd quarter worth about $31,000. Peterson Wealth Services acquired a new stake in shares of Cipher Mining in the 3rd quarter valued at about $41,000. Finally, Steward Partners Investment Advisory LLC increased its position in Cipher Mining by 258.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after buying an additional 6,516 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CIFR shares. Canaccord Genuity Group restated a “buy” rating and set a $27.00 price objective (up from $16.00) on shares of Cipher Mining in a research report on Tuesday, November 4th. Needham & Company LLC raised their price target on shares of Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Arete initiated coverage on shares of Cipher Mining in a research report on Wednesday, September 24th. They issued a “buy” rating and a $24.00 price target on the stock. Wells Fargo & Company set a $18.00 price objective on shares of Cipher Mining in a research report on Monday, November 24th. Finally, Rosenblatt Securities lifted their target price on shares of Cipher Mining to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.68.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.