Insider Selling: Cipher Mining (NASDAQ:CIFR) Director Sells $710,834.14 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director James Newsome sold 45,161 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $15.74, for a total value of $710,834.14. Following the transaction, the director directly owned 127,331 shares in the company, valued at approximately $2,004,189.94. This represents a 26.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cipher Mining Stock Down 10.1%

Shares of CIFR opened at $13.62 on Monday. The business’s fifty day moving average price is $16.37 and its two-hundred day moving average price is $15.66. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -6.31 and a beta of 2.96. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $25.52. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CIFR. HC Wainwright decreased their price target on Cipher Mining to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $12.00 to $18.00 in a report on Monday, November 24th. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. Morgan Stanley started coverage on shares of Cipher Mining in a research note on Monday, February 9th. They issued an “overweight” rating and a $38.00 target price on the stock. Finally, Needham & Company LLC lowered their price target on shares of Cipher Mining to $22.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.46.

Institutional Investors Weigh In On Cipher Mining

A number of institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new position in Cipher Mining in the fourth quarter valued at about $25,000. Arax Advisory Partners boosted its holdings in Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after buying an additional 1,338 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after buying an additional 1,286 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Cipher Mining during the 4th quarter worth about $28,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of Cipher Mining in the 3rd quarter valued at about $25,000. 12.26% of the stock is owned by institutional investors and hedge funds.

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.