Patrick Arthur Kelly Sells 35,568 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $17.76, for a total value of $631,687.68. Following the completion of the transaction, the chief operating officer owned 1,512,644 shares in the company, valued at approximately $26,864,557.44. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Patrick Arthur Kelly also recently made the following trade(s):

• On Monday, December 15th, Patrick Arthur Kelly sold 35,569 shares of Cipher Mining stock. The stock was sold at an average price of $15.08, for a total transaction of $536,380.52.
• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The shares were sold at an average price of $14.20, for a total transaction of $377,436.00.
• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The stock was sold at an average price of $14.20, for a total transaction of $377,436.00.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $17.72 on Thursday. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $25.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -98.44 and a beta of 2.94. The firm has a 50 day simple moving average of $16.87 and a 200 day simple moving average of $13.28.

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

Institutional Trading of Cipher Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Cipher Mining by 996.9% in the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company’s stock worth $10,645,000 after purchasing an additional 2,023,994 shares during the period. Thames Capital Management LLC bought a new position in shares of Cipher Mining during the 3rd quarter worth about $19,070,000. Greenleaf Trust acquired a new stake in shares of Cipher Mining in the 2nd quarter valued at about $108,000. Legal & General Group Plc grew its stake in shares of Cipher Mining by 33.4% in the 2nd quarter. Legal & General Group Plc now owns 298,446 shares of the company’s stock valued at $1,427,000 after buying an additional 74,744 shares during the period. Finally, Soros Fund Management LLC increased its position in Cipher Mining by 67.5% in the 2nd quarter. Soros Fund Management LLC now owns 1,300,000 shares of the company’s stock valued at $6,214,000 after buying an additional 524,044 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Arete Research began coverage on Cipher Mining in a research note on Wednesday, September 24th. They set a “buy” rating and a $24.00 price target on the stock. Macquarie raised their price objective on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. Canaccord Genuity Group restated a “buy” rating and issued a $27.00 price target on shares of Cipher Mining in a research report on Monday, December 15th. Finally, Needham & Company LLC lifted 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. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.73.

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.