Insider Selling: Cipher Mining (NASDAQ:CIFR) Director Sells 20,000 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Cary Grossman sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $21.82, for a total value of $436,400.00. Following the sale, the director directly owned 150,530 shares in the company, valued at $3,284,564.60. This represents a 11.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cipher Mining Price Performance

Cipher Mining stock traded down $0.13 during mid-day trading on Friday, reaching $20.55. 24,412,106 shares of the company were exchanged, compared to its average volume of 28,235,041. The firm has a market cap of $8.41 billion, a PE ratio of -8.82 and a beta of 3.13. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.79. The company has a fifty day simple moving average of $15.99 and a 200-day simple moving average of $16.83. Cipher Mining Inc. has a 12 month low of $2.95 and a 12 month high of $25.52.

Cipher Mining (NASDAQ:CIFR) last released its 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 for 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 company’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, equities research analysts expect that Cipher Mining Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC bought a new position in Cipher Mining in the 1st quarter valued at approximately $9,316,000. Goldman Sachs Group Inc. grew its stake in shares of Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock worth $10,765,000 after buying an additional 1,610,073 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Cipher Mining during the second quarter worth $98,000. Prudential Financial Inc. increased its holdings in shares of Cipher Mining by 113.7% during the second quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock worth $151,000 after buying an additional 16,810 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Cipher Mining by 65.2% in the 2nd quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock valued at $142,000 after acquiring an additional 11,725 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CIFR has been the subject of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday. Zacks Research upgraded Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Cipher Mining in a report on Wednesday, March 25th. Finally, Rosenblatt Securities lifted their price target on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.29.

Cipher Mining News Summary

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: Rosenblatt Securities raised its price target on Cipher Mining to $30 from $24 and reiterated a buy rating, signaling confidence in further upside. Rosenblatt Securities Raises Price Target on Cipher Mining
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $27 from $23 and kept an outperform rating, which reinforced the bullish analyst trend. Cipher Mining Price Target Raised by Keefe, Bruyette & Woods
• Positive Sentiment: HC Wainwright also reportedly increased its price target to $30, adding another vote of confidence in Cipher Mining’s outlook. Cipher Mining Given New Price Target at HC Wainwright
• Positive Sentiment: News coverage highlighted Cipher Mining’s momentum tied to large AI campus leases and a $2.2 billion financing, which supports the company’s growth story and could attract momentum investors. Cipher Digital Is Up After Massive AI Campus Leases And Financing
• Neutral Sentiment: Cipher Mining said it will participate in several upcoming investor and industry conferences, which may help keep the company visible but does not change fundamentals by itself. Cipher Digital Announces Participation in Upcoming Investor and Industry Conferences
• Negative Sentiment: Director Cary M. Grossman sold 20,000 shares, trimming his stake by 11.73%, which can be viewed as a mild confidence signal against the stock. Cary M. Grossman Insider Sale SEC Filing
• Negative Sentiment: Director Wesley Hastie Williams sold 28,169 shares, reducing his position by 17.81%, adding a second insider-sale headline that may temper enthusiasm. Wesley Hastie Williams Insider Sale SEC Filing

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.