Cipher Mining (NASDAQ:CIFR) Director Wesley Hastie Williams Sells 14,567 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Wesley Hastie Williams sold 14,567 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total value of $311,879.47. Following the sale, the director directly owned 115,409 shares in the company, valued at $2,470,906.69. This represents a 11.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wesley Hastie Williams also recently made the following trade(s):

• On Wednesday, May 6th, Wesley Hastie Williams sold 28,169 shares of Cipher Mining stock. The shares were sold at an average price of $22.26, for a total value of $627,041.94.

Cipher Mining Trading Up 2.1%

Shares of CIFR stock opened at $21.97 on Friday. The stock’s fifty day moving average price is $17.18 and its two-hundred day moving average price is $16.97. The company has a market cap of $8.99 billion, a PE ratio of -9.43 and a beta of 3.13. Cipher Mining Inc. has a fifty-two week low of $3.08 and a fifty-two week high of $25.52. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The firm’s revenue was down 28.8% on a year-over-year basis. Equities analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CIFR. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research report on Wednesday, May 6th. Wall Street Zen downgraded Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Rosenblatt Securities upped their price objective on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. HC Wainwright boosted their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Fifteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Institutional Trading of Cipher Mining

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Cipher Mining by 237.7% during the first quarter. Bank of America Corp DE now owns 1,414,667 shares of the company’s stock worth $18,207,000 after purchasing an additional 995,735 shares during the period. Janus Henderson Group PLC increased its stake in shares of Cipher Mining by 1.9% during the first quarter. Janus Henderson Group PLC now owns 4,373,982 shares of the company’s stock valued at $56,292,000 after purchasing an additional 81,192 shares in the last quarter. Amundi bought a new position in shares of Cipher Mining during the first quarter valued at approximately $198,000. EverSource Wealth Advisors LLC increased its stake in shares of Cipher Mining by 259.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,357 shares of the company’s stock valued at $43,000 after purchasing an additional 2,423 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Cipher Mining by 22.2% during the first quarter. California State Teachers Retirement System now owns 365,966 shares of the company’s stock valued at $4,710,000 after purchasing an additional 66,518 shares in the last quarter. 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.