Cipher Mining (NASDAQ:CIFR) Director James Newsome Sells 3,342 Shares

Cipher Mining Inc. (NASDAQ:CIFR) Director James Newsome sold 3,342 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $20.96, for a total value of $70,048.32. Following the completion of the transaction, the director directly owned 132,288 shares of the company’s stock, valued at $2,772,756.48. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cipher Mining Trading Up 10.6%

CIFR opened at $29.13 on Friday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 52 week low of $3.29 and a 52 week high of $30.01. The stock has a market cap of $11.92 billion, a PE ratio of -12.50 and a beta of 3.18. The business has a 50 day moving average of $21.19 and a 200-day moving average of $17.82.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data 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 the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. Equities research analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $25.00 price target on shares of Cipher Mining in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods upped their price objective 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. HC Wainwright raised their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald decreased their target price on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Needham & Company LLC lifted their target price on shares of Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.69.

Institutional Trading of Cipher Mining

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock worth $482,360,000 after buying an additional 9,865,533 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Cipher Mining in the third quarter worth approximately $70,524,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Cipher Mining during the third quarter valued at approximately $64,266,000. Situational Awareness LP grew its holdings in shares of Cipher Mining by 82.4% during the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after buying an additional 4,728,600 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Cipher Mining by 3,718.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock valued at $63,359,000 after acquiring an additional 4,180,362 shares in 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.