Cary Grossman Sells 15,000 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Cary Grossman sold 15,000 shares of Cipher Mining stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $29.43, for a total value of $441,450.00. Following the completion of the sale, the director owned 143,829 shares in the company, valued at approximately $4,232,887.47. The trade was a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cipher Mining Price Performance

Shares of Cipher Mining stock opened at $26.15 on Thursday. The business has a 50 day simple moving average of $22.09 and a two-hundred day simple moving average of $18.06. Cipher Mining Inc. has a 12 month low of $3.65 and a 12 month high of $30.14. The stock has a market capitalization of $10.70 billion, a P/E ratio of -11.22 and a beta of 3.18. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $36.12 million. The firm’s revenue was down 28.8% compared to the same quarter last year. As a group, analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Abel Hall LLC lifted its position in Cipher Mining by 3.8% in the first quarter. Abel Hall LLC now owns 20,140 shares of the company’s stock valued at $259,000 after buying an additional 739 shares during the last quarter. Rathbones Group PLC increased its position in shares of Cipher Mining by 7.0% during the first quarter. Rathbones Group PLC now owns 11,495 shares of the company’s stock valued at $148,000 after acquiring an additional 750 shares during the last quarter. CWM LLC raised its stake in shares of Cipher Mining by 43.3% in the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after acquiring an additional 804 shares during the period. Prospera Financial Services Inc raised its stake in shares of Cipher Mining by 6.7% in the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock valued at $230,000 after acquiring an additional 980 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after acquiring an additional 1,286 shares during the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CIFR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Jefferies Financial Group began coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 price target on the stock. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Keefe, Bruyette & Woods increased their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently 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.