Cipher Mining (NASDAQ:CIFR) Director James Newsome Sells 3,758 Shares

Cipher Mining Inc. (NASDAQ:CIFR) Director James Newsome sold 3,758 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total transaction of $99,962.80. Following the completion of the transaction, the director directly owned 128,530 shares in the company, valued at $3,418,898. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Cipher Mining Stock Up 10.6%

Shares of NASDAQ:CIFR traded up $2.78 during midday trading on Thursday, hitting $29.13. 39,324,184 shares of the company’s stock were exchanged, compared to its average volume of 27,461,486. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The stock has a 50 day moving average price of $20.89 and a 200-day moving average price of $17.75. The company has a market cap of $11.92 billion, a PE ratio of -12.50 and a beta of 3.18. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $30.01.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CIFR. Sanford C. Bernstein initiated coverage on Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price on the stock. Wall Street Zen downgraded Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research report on Friday, March 27th. Finally, Rosenblatt Securities raised 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. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.

Institutional Investors Weigh In On Cipher Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rathbones Group PLC lifted its position in shares of Cipher Mining by 7.0% during the 1st quarter. Rathbones Group PLC now owns 11,495 shares of the company’s stock worth $148,000 after buying an additional 750 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Cipher Mining by 237.7% in the first quarter. Bank of America Corp DE now owns 1,414,667 shares of the company’s stock valued at $18,207,000 after acquiring an additional 995,735 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Cipher Mining by 1.9% in the first quarter. Janus Henderson Group PLC now owns 4,373,982 shares of the company’s stock valued at $56,292,000 after acquiring an additional 81,192 shares in the last quarter. Amundi purchased a new stake in shares of Cipher Mining during the first quarter valued at approximately $198,000. Finally, EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 2,423 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.