Cipher Mining (NASDAQ:CIFR) Director Cary Grossman Sells 15,000 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Cary Grossman sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $29.43, for a total value of $441,450.00. Following the completion of the transaction, the director owned 143,829 shares in the company, valued at $4,232,887.47. This trade represents a 9.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cipher Mining Trading Down 1.8%

Shares of CIFR stock opened at $27.64 on Wednesday. The company has a market capitalization of $11.31 billion, a P/E ratio of -11.86 and a beta of 3.18. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The business’s 50 day moving average is $21.92 and its two-hundred day moving average is $18.02. Cipher Mining Inc. has a twelve month low of $3.63 and a twelve month high of $30.14.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 company had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $36.12 million. The business’s revenue was down 28.8% compared to the same quarter last year. Equities analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Analyst Ratings Changes

CIFR has been the subject of several recent analyst reports. BTIG Research restated a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a research note on Wednesday, May 6th. Cantor Fitzgerald cut their price target on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Friday, March 27th. HC Wainwright lifted their price objective on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Rosenblatt Securities boosted their target price on Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.69.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $148,000 after acquiring an additional 750 shares during the period. Bank of America Corp DE grew its holdings in shares of Cipher Mining by 237.7% in the 1st quarter. Bank of America Corp DE now owns 1,414,667 shares of the company’s stock worth $18,207,000 after acquiring an additional 995,735 shares during the period. Janus Henderson Group PLC increased its stake in Cipher Mining by 1.9% in the 1st 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 purchased a new position in Cipher Mining in the 1st quarter valued at approximately $198,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Cipher Mining by 259.4% during the first quarter. EverSource Wealth Advisors LLC now owns 3,357 shares of the company’s stock worth $43,000 after purchasing an additional 2,423 shares during the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.