Patrick Arthur Kelly Sells 35,569 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,569 shares of Cipher Mining stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $15.08, for a total value of $536,380.52. Following the sale, the chief operating officer directly owned 1,151,770 shares in the company, valued at $17,368,691.60. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The shares were sold at an average price of $14.20, for a total transaction of $377,436.00.
• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The stock was sold at an average price of $14.20, for a total transaction of $377,436.00.
• On Wednesday, October 15th, Patrick Arthur Kelly sold 26,581 shares of Cipher Mining stock. The shares were sold at an average price of $21.08, for a total transaction of $560,327.48.

Cipher Mining Price Performance

CIFR stock opened at $15.15 on Friday. The company has a market capitalization of $5.99 billion, a P/E ratio of -84.17 and a beta of 2.91. The company has a fifty day moving average price of $18.34 and a 200-day moving average price of $11.13. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $25.52.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The business had revenue of $106.69 million during 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%. As a group, equities analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company set a $18.00 price target on Cipher Mining in a research note on Monday, November 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cipher Mining in a research report on Monday. Citigroup initiated coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating for the company. Macquarie upped their price objective on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.73.

Hedge Funds Weigh In On Cipher Mining

A number of institutional investors and hedge funds have recently modified their holdings of CIFR. Voloridge Investment Management LLC bought a new position in Cipher Mining during the third quarter worth $70,524,000. Value Aligned Research Advisors LLC acquired a new stake in Cipher Mining in the third quarter worth $64,266,000. Millennium Management LLC bought a new stake in Cipher Mining in the first quarter valued at $9,316,000. Alyeska Investment Group L.P. acquired a new position in shares of Cipher Mining during the first quarter valued at about $7,094,000. Finally, Vanguard Group Inc. raised its holdings in shares of Cipher Mining by 13.4% during the third quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock valued at $287,236,000 after purchasing an additional 2,699,717 shares during the period. 12.26% of the stock is currently owned by institutional investors.

About Cipher Mining

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.