Cipher Mining (NASDAQ:CIFR) CEO Sells $2,383,875.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) CEO Tyler Page sold 112,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total value of $2,383,875.00. Following the completion of the transaction, the chief executive officer owned 9,084,225 shares of the company’s stock, valued at $192,494,727.75. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cipher Mining Price Performance

NASDAQ CIFR opened at $22.11 on Monday. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of -9.49 and a beta of 3.18. The business has a 50 day simple moving average of $23.17 and a 200 day simple moving average of $18.55. Cipher Mining Inc. has a 52-week low of $4.55 and a 52-week high of $30.14.

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

Institutional Investors Weigh In On Cipher Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after acquiring an additional 9,865,533 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Cipher Mining in the third quarter valued at approximately $70,524,000. Value Aligned Research Advisors LLC acquired a new position in shares of Cipher Mining during the 3rd quarter worth approximately $64,266,000. Situational Awareness LP raised its stake in shares of Cipher Mining by 82.4% during the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after purchasing an additional 4,728,600 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Cipher Mining by 3,718.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock valued at $63,359,000 after buying an additional 4,180,362 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CIFR. Needham & Company LLC upped their target price on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Keefe, Bruyette & Woods lifted their price target on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 price target on shares of Cipher Mining in a report on Thursday, June 25th. Morgan Stanley reduced their price objective on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Finally, Sanford C. Bernstein began coverage on Cipher Mining in a report on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.31.

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.