Cipher Mining (NASDAQ:CIFR) Director Wesley Hastie Williams Sells 18,769 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Wesley Hastie Williams sold 18,769 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $17.51, for a total transaction of $328,645.19. Following the completion of the sale, the director owned 208,012 shares in the company, valued at $3,642,290.12. The trade was a 8.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Cipher Mining Stock Down 3.8%

NASDAQ CIFR traded down $0.57 during trading on Friday, reaching $14.36. 56,729,730 shares of the company’s stock were exchanged, compared to its average volume of 49,707,740. The stock has a market cap of $5.67 billion, a P/E ratio of -79.78 and a beta of 2.91. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The company has a 50 day moving average price of $16.18 and a two-hundred day moving average price of $8.81. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $25.52.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $106.69 million for the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. On average, equities research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

Large investors have recently modified their holdings of the business. Sherman Asset Management Inc. purchased a new position in shares of Cipher Mining in the 3rd quarter valued at about $25,000. Hollencrest Capital Management purchased a new position in Cipher Mining during the 3rd quarter valued at about $31,000. Peterson Wealth Services purchased a new stake in shares of Cipher Mining in the third quarter valued at about $41,000. Parallel Advisors LLC grew its position in shares of Cipher Mining by 663.0% in the third quarter. Parallel Advisors LLC now owns 4,166 shares of the company’s stock valued at $52,000 after purchasing an additional 3,620 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Cipher Mining by 184.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,328 shares of the company’s stock worth $67,000 after purchasing an additional 3,454 shares during the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Cipher Mining from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Compass Point initiated coverage on shares of Cipher Mining in a research note on Monday, September 15th. They set a “buy” rating on the stock. Arete started coverage on shares of Cipher Mining in a research report on Wednesday, September 24th. They issued a “buy” rating and a $24.00 price target for the company. Arete Research assumed coverage on Cipher Mining in a report on Wednesday, September 24th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Macquarie lifted their target price on Cipher Mining from $16.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.77.

Cipher Mining Company Profile

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.