Cipher Mining (NASDAQ:CIFR) CEO Sells $604,125.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) CEO Tyler Page sold 37,500 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the transaction, the chief executive officer directly owned 8,263,862 shares in the company, valued at $133,130,816.82. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Cipher Mining Stock Performance

CIFR stock opened at $12.02 on Tuesday. The company has a 50-day simple moving average of $15.57 and a 200 day simple moving average of $16.40. The company has a market capitalization of $4.87 billion, a P/E ratio of -5.56 and a beta of 2.96. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 3.37. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $25.52.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CIFR. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Cipher Mining in a research note on Wednesday, March 25th. Morgan Stanley began coverage on shares of Cipher Mining in a research note on Monday, February 9th. They set an “overweight” rating and a $38.00 price objective on the stock. HC Wainwright dropped their target price on Cipher Mining to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Zacks Research upgraded Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $24.00 price target on shares of Cipher Mining in a research note on Thursday, March 26th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining has a consensus rating of “Moderate Buy” and a consensus price target of $23.68.

Hedge Funds Weigh In On Cipher Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Cipher Mining in the fourth quarter valued at $25,000. Arax Advisory Partners boosted its position in shares of Cipher Mining by 274.2% in 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 period. GAMMA Investing LLC grew its holdings in shares of Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after buying an additional 1,286 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cipher Mining during the fourth quarter valued at $28,000. Finally, Sherman Asset Management Inc. acquired a new position in Cipher Mining during the third quarter valued at $25,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

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.