Insider Selling: Cipher Mining (NASDAQ:CIFR) Director Sells 49,867 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Wesley Hastie Williams sold 49,867 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $16.08, for a total value of $801,861.36. Following the completion of the sale, the director owned 158,145 shares of the company’s stock, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Wesley Hastie Williams also recently made the following trade(s):

• On Wednesday, November 12th, Wesley Hastie Williams sold 18,769 shares of Cipher Mining stock. The shares were sold at an average price of $17.51, for a total transaction of $328,645.19.

Cipher Mining Price Performance

CIFR traded down $0.43 on Tuesday, reaching $15.91. The company’s stock had a trading volume of 20,630,914 shares, compared to its average volume of 33,686,912. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $25.52. The business’s 50 day moving average is $18.14 and its 200 day moving average is $11.50.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. The business had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. Research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CIFR shares. Wall Street Zen raised shares of Cipher Mining from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Rosenblatt Securities boosted their price target on shares of Cipher Mining to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Wells Fargo & Company set a $18.00 target price on Cipher Mining in a research report on Monday, November 24th. Finally, Citigroup initiated coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating for the company. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus target price of $24.73.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Voloridge Investment Management LLC bought a new position in Cipher Mining in the 3rd quarter valued at $70,524,000. Value Aligned Research Advisors LLC acquired a new position in Cipher Mining during the 3rd quarter worth about $64,266,000. Millennium Management LLC bought a new stake in Cipher Mining during the 1st quarter worth about $9,316,000. Alyeska Investment Group L.P. acquired a new stake in Cipher Mining in the 1st quarter valued at about $7,094,000. Finally, Vanguard Group Inc. lifted its position in shares of Cipher Mining by 13.4% during the third quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock worth $287,236,000 after purchasing an additional 2,699,717 shares in the last quarter. 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.