Cipher Mining (NASDAQ:CIFR) COO Sells $929,280.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 48,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $19.36, for a total value of $929,280.00. Following the completion of the transaction, the chief operating officer owned 1,451,856 shares of the company’s stock, valued at $28,107,932.16. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Patrick Arthur Kelly also recently made the following trade(s):

• On Monday, March 16th, Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock. The shares were sold at an average price of $14.98, for a total transaction of $532,808.64.

Cipher Mining Price Performance

Shares of CIFR traded up $1.05 during midday trading on Thursday, hitting $22.29. 27,450,133 shares of the company traded hands, compared to its average volume of 28,202,340. The firm has a 50 day moving average of $16.34 and a 200-day moving average of $16.91. Cipher Mining Inc. has a 52 week low of $3.02 and a 52 week high of $25.52. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of -9.57 and a beta of 3.13. 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 (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $36.12 million. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, analysts forecast that Cipher Mining Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Rosenblatt Securities increased their target price on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research note on Wednesday, May 6th. Jefferies Financial Group began coverage on shares of Cipher Mining in a research report on Thursday. They set a “buy” rating and a $32.00 price objective for the company. Morgan Stanley restated an “overweight” rating and issued a $40.50 target price on shares of Cipher Mining in a report on Monday, April 27th. Finally, HC Wainwright upped their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Fifteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cipher Mining has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Institutional Trading of Cipher Mining

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock worth $482,360,000 after buying an additional 9,865,533 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Cipher Mining during the third quarter valued at $70,524,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Cipher Mining in the third quarter valued at $64,266,000. Situational Awareness LP raised its stake in shares of Cipher Mining by 82.4% in the fourth 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 period. Finally, Janus Henderson Group PLC lifted 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 worth $63,359,000 after acquiring an additional 4,180,362 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.