Cipher Mining (NASDAQ:CIFR) Posts Earnings Results, Misses Estimates By $0.02 EPS

Cipher Mining (NASDAQ:CIFR) announced its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02), FiscalAI reports. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. The company had revenue of $59.71 million during the quarter, compared to analysts’ expectations of $85.98 million.

Cipher Mining Stock Performance

Cipher Mining stock opened at $15.22 on Tuesday. Cipher Mining has a fifty-two week low of $1.86 and a fifty-two week high of $25.52. 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 stock has a market cap of $6.01 billion, a P/E ratio of -84.56 and a beta of 2.95. The firm’s fifty day moving average price is $16.36 and its 200-day moving average price is $15.00.

Insiders Place Their Bets

In other news, Director Wesley Hastie Williams sold 49,867 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $16.08, for a total transaction of $801,861.36. Following the transaction, the director directly owned 158,145 shares in the company, valued at approximately $2,542,971.60. This represents a 23.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Patrick Arthur Kelly sold 35,569 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $15.08, for a total value of $536,380.52. Following the completion of the sale, the chief operating officer owned 1,151,770 shares of the company’s stock, valued at $17,368,691.60. The trade was a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 182,825 shares of company stock valued at $3,075,820 over the last quarter. Insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CIFR. Arax Advisory Partners boosted its position in Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after buying an additional 1,338 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Cipher Mining by 5.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 30,928 shares of the company’s stock worth $456,000 after buying an additional 1,681 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Cipher Mining in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in Cipher Mining during the 4th quarter valued at about $28,000. Finally, Wedbush Securities Inc. grew its position in Cipher Mining by 18.6% during the 4th quarter. Wedbush Securities Inc. now owns 14,650 shares of the company’s stock worth $216,000 after acquiring an additional 2,300 shares during the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CIFR. Canaccord Genuity Group reiterated a “buy” rating and set a $27.00 price target on shares of Cipher Mining in a research report on Monday, December 15th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 5th. Wells Fargo & Company set a $18.00 target price on shares of Cipher Mining in a research note on Monday, November 24th. Northland Securities set a $27.50 price target on shares of Cipher Mining in a report on Tuesday, November 4th. Finally, Citigroup assumed coverage on Cipher Mining in a research report on Wednesday, November 19th. They issued an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and an average target price of $25.11.

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.