Cipher Mining (NASDAQ:CIFR) COO Sells $631,687.68 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,568 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $17.76, for a total value of $631,687.68. Following the completion of the transaction, the chief operating officer directly owned 1,512,644 shares of the company’s stock, valued at approximately $26,864,557.44. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 15th, Patrick Arthur Kelly sold 35,569 shares of Cipher Mining stock. The stock was sold at an average price of $15.08, for a total value of $536,380.52.
• 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 value 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 value of $377,436.00.

Cipher Mining Trading Down 4.7%

Shares of Cipher Mining stock traded down $0.88 during trading hours on Tuesday, hitting $17.92. The company’s stock had a trading volume of 28,212,668 shares, compared to its average volume of 27,632,705. The stock has a 50 day moving average of $16.88 and a 200 day moving average of $13.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $25.52. The company has a market capitalization of $7.08 billion, a PE ratio of -99.56 and a beta of 2.94.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The company had revenue of $106.69 million during the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. Analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on CIFR shares. Citizens Jmp assumed coverage on shares of Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $27.00 price objective on shares of Cipher Mining in a report on Monday, December 15th. Rosenblatt Securities increased their price objective on Cipher Mining to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Finally, Wells Fargo & Company set a $18.00 price target on shares of Cipher Mining in a research report on Monday, November 24th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.73.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Cipher Mining by 13.4% in the third quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock worth $287,236,000 after acquiring an additional 2,699,717 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cipher Mining by 18.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company’s stock valued at $34,621,000 after buying an additional 1,108,850 shares during the period. Tidal Investments LLC boosted its holdings in Cipher Mining by 28.3% in the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock valued at $33,386,000 after purchasing an additional 1,541,138 shares during the period. Invesco Ltd. grew its holdings in Cipher Mining by 40.0% during the 3rd quarter. Invesco Ltd. now owns 6,852,074 shares of the company’s stock worth $86,268,000 after acquiring an additional 1,958,385 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Cipher Mining by 64.9% during the 3rd quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company’s stock worth $84,937,000 after acquiring an additional 2,655,015 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

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.