Wesley Hastie Williams Sells 28,169 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Wesley Hastie Williams sold 28,169 shares of Cipher Mining stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $22.26, for a total value of $627,041.94. Following the completion of the sale, the director directly owned 129,976 shares of the company’s stock, valued at approximately $2,893,265.76. This trade represents a 17.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cipher Mining Stock Performance

NASDAQ CIFR traded down $0.13 during trading on Friday, hitting $20.55. 24,412,106 shares of the company’s stock traded hands, compared to its average volume of 28,235,041. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of -8.82 and a beta of 3.13. Cipher Mining Inc. has a 12-month low of $2.95 and a 12-month high of $25.52. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.79 and a current ratio of 3.13. The business has a 50 day moving average of $15.99 and a 200-day moving average of $16.83.

Cipher Mining (NASDAQ:CIFR) last posted its 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). The business had revenue of $34.84 million during the quarter, compared to analysts’ expectations of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Cipher Mining Inc. will post -0.9 earnings per share for the current fiscal year.

Key Headlines Impacting Cipher Mining

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

Institutional Investors Weigh In On Cipher Mining

A number of institutional investors and hedge funds have recently made changes to their positions in CIFR. PNC Financial Services Group Inc. raised its holdings in shares of Cipher Mining by 31.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,718 shares of the company’s stock valued at $86,000 after acquiring an additional 1,623 shares in the last quarter. Harbor Advisors LLC grew its holdings in shares of Cipher Mining by 200.0% during the first quarter. Harbor Advisors LLC now owns 30,000 shares of the company’s stock worth $386,000 after purchasing an additional 20,000 shares in the last quarter. Swiss National Bank raised its stake in Cipher Mining by 0.4% in the first quarter. Swiss National Bank now owns 622,900 shares of the company’s stock valued at $8,017,000 after purchasing an additional 2,600 shares in the last quarter. Jennison Associates LLC raised its stake in Cipher Mining by 48.7% in the first quarter. Jennison Associates LLC now owns 2,519,281 shares of the company’s stock valued at $32,423,000 after purchasing an additional 824,618 shares in the last quarter. Finally, Kera Capital Partners Inc. lifted its position in Cipher Mining by 32.5% during the first quarter. Kera Capital Partners Inc. now owns 16,286 shares of the company’s stock valued at $210,000 after purchasing an additional 3,997 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CIFR. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. HC Wainwright increased their price objective on Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. Rosenblatt Securities raised their target price on Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $40.50 target price on shares of Cipher Mining in a report on Monday, April 27th. Finally, Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.29.

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.