Insider Selling: Cipher Mining (NASDAQ:CIFR) Director Sells $99,962.80 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director James Newsome sold 3,758 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total value of $99,962.80. Following the completion of the transaction, the director owned 128,530 shares in the company, valued at approximately $3,418,898. The trade was a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cipher Mining Stock Performance

Shares of CIFR opened at $29.13 on Friday. Cipher Mining Inc. has a 1 year low of $3.29 and a 1 year high of $30.01. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The stock’s fifty day moving average price is $21.46 and its two-hundred day moving average price is $17.90. The firm has a market cap of $11.92 billion, a PE ratio of -12.50 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results 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). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The firm had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. On average, equities research analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Cipher Mining

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

Analysts Set New Price Targets

A number of analysts recently commented on CIFR shares. BTIG Research restated a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research note on Wednesday, May 6th. HC Wainwright boosted their price objective on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Finally, Keefe, Bruyette & Woods lifted their target price on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. One research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.

About Cipher Mining

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.