Cipher Mining (NASDAQ:CIFR) CEO Tyler Page Sells 112,500 Shares

Cipher Mining Inc. (NASDAQ:CIFR) CEO Tyler Page sold 112,500 shares of Cipher Mining stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the completion of the transaction, the chief executive officer directly owned 9,084,225 shares of the company’s stock, valued at $192,494,727.75. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cipher Mining Price Performance

Shares of Cipher Mining stock traded down $1.15 during trading hours on Friday, reaching $22.11. The company’s stock had a trading volume of 16,447,125 shares, compared to its average volume of 27,138,375. The firm has a 50 day moving average price of $23.07 and a 200-day moving average price of $18.51. 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 market cap of $9.04 billion, a P/E ratio of -9.49 and a beta of 3.18. Cipher Mining Inc. has a one year low of $4.55 and a one year high of $30.14.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The business had revenue of $34.84 million during the quarter, compared to the consensus estimate 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 for the quarter was down 28.8% on a year-over-year basis. On average, analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of recent research reports. BTIG Research lifted their target price on Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Cantor Fitzgerald decreased their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Jefferies Financial Group began coverage on Cipher Mining in a research report on Thursday, May 14th. They issued a “buy” rating and a $32.00 price target for the company. HC Wainwright lifted their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Cipher Mining in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.31.

Institutional Trading of Cipher Mining

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Cipher Mining by 43.2% during 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 period. Situational Awareness LP increased its holdings in shares of Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after acquiring an additional 4,728,600 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cipher Mining by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after acquiring an additional 558,105 shares during the period. State Street Corp raised its position in shares of Cipher Mining by 10.2% in the 4th quarter. State Street Corp now owns 8,078,423 shares of the company’s stock worth $119,238,000 after acquiring an additional 745,030 shares in the last quarter. Finally, Value Aligned Research Advisors LLC raised its position in shares of Cipher Mining by 45.9% in the 4th quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock worth $109,925,000 after acquiring an additional 2,342,958 shares in the last quarter. 12.26% of the stock is 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.