Cipher Mining (NASDAQ:CIFR) Shares Down 4.8% – Should You Sell?

Cipher Mining Inc. (NASDAQ:CIFR)’s stock price traded down 4.8% during mid-day trading on Thursday . The company traded as low as $17.58 and last traded at $17.2530. 3,163,987 shares changed hands during trading, a decline of 86% from the average session volume of 22,779,596 shares. The stock had previously closed at $18.13.

Wall Street Analysts Forecast Growth

CIFR has been the topic of several analyst reports. Macquarie lifted their price target on shares of Cipher Mining from $16.00 to $27.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. BTIG Research reiterated a “buy” rating and issued a $25.00 price target on shares of Cipher Mining in a research note on Wednesday, November 5th. Canaccord Genuity Group restated a “buy” rating and issued a $27.00 price objective on shares of Cipher Mining in a research report on Monday, December 15th. Finally, Citizens Jmp assumed coverage on Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating and a $30.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.73.

Cipher Mining Price Performance

The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a fifty day simple moving average of $17.02 and a two-hundred day simple moving average of $12.84. The firm has a market cap of $7.22 billion, a PE ratio of -101.52 and a beta of 2.94.

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

Insiders Place Their Bets

In other Cipher Mining news, Director James E. Newsome sold 21,821 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $16.03, for a total transaction of $349,790.63. Following the sale, the director directly owned 172,492 shares of the company’s stock, valued at $2,765,046.76. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Iwaschuk sold 173,094 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $22.52, for a total value of $3,898,076.88. Following the completion of the sale, the insider directly owned 1,054,488 shares of the company’s stock, valued at $23,747,069.76. The trade was a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 408,549 shares of company stock worth $7,708,644. Insiders own 2.63% of the company’s stock.

Institutional Trading of Cipher Mining

Several hedge funds and other institutional investors have recently bought and sold shares of CIFR. Sherman Asset Management Inc. purchased a new stake in shares of Cipher Mining in the third quarter valued at $25,000. GAMMA Investing LLC boosted its position in shares of Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after buying an additional 1,286 shares during the period. Hollencrest Capital Management bought a new position in shares of Cipher Mining during the third quarter valued at approximately $31,000. Peterson Wealth Services purchased a new stake in shares of Cipher Mining in the third quarter worth approximately $41,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Cipher Mining by 258.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after buying an additional 6,516 shares during the period. Hedge funds and other 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.