Insider Selling: Cipher Mining (NASDAQ:CIFR) Director Sells $70,048.32 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director James Newsome sold 3,342 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $20.96, for a total transaction of $70,048.32. Following the completion of the transaction, the director owned 132,288 shares in the company, valued at approximately $2,772,756.48. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Cipher Mining Price Performance

Cipher Mining stock opened at $29.13 on Friday. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. Cipher Mining Inc. has a 52-week low of $3.29 and a 52-week high of $30.01. The stock’s 50 day moving average price is $21.46 and its two-hundred day moving average price is $17.90. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of -12.50 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The company had revenue of $34.84 million for the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The company’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, equities analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On Cipher Mining

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Cipher Mining by 43.2% in the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock worth $482,360,000 after purchasing an additional 9,865,533 shares during the period. Situational Awareness LP increased its position in Cipher Mining by 82.4% in the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after buying an additional 4,728,600 shares during the last quarter. Geode Capital Management LLC increased its position in Cipher Mining by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock worth $120,519,000 after buying an additional 558,105 shares during the last quarter. State Street Corp raised its stake in shares of Cipher Mining by 10.2% in the fourth quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after buying an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC lifted its position in shares of Cipher Mining by 45.9% during the 4th quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock valued at $109,925,000 after buying an additional 2,342,958 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Needham & Company LLC raised their price objective on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and an average target price of $27.69.

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.