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

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

Cipher Mining Price Performance

CIFR stock opened at $29.13 on Friday. The firm has a 50 day moving average of $21.46 and a 200-day moving average of $17.90. The company has a market cap of $11.92 billion, a price-to-earnings 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. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CIFR shares. Sanford C. Bernstein started coverage on shares of Cipher Mining in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Cantor Fitzgerald reduced their price objective on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, BTIG Research restated a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a research report 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.69.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Rathbones Group PLC increased its stake in Cipher Mining by 7.0% in the 1st quarter. Rathbones Group PLC now owns 11,495 shares of the company’s stock valued at $148,000 after buying an additional 750 shares during the period. Bank of America Corp DE raised its holdings in 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 valued at $18,207,000 after buying an additional 995,735 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of 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 acquiring an additional 81,192 shares in the last quarter. Amundi bought a new position in shares of Cipher Mining in the first quarter valued at approximately $198,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Cipher Mining by 259.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,357 shares of the company’s stock worth $43,000 after acquiring an additional 2,423 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.

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.