Cipher Mining (NASDAQ:CIFR) Director James Newsome Sells 45,161 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director James Newsome sold 45,161 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.74, for a total value of $710,834.14. Following the transaction, the director directly owned 127,331 shares of the company’s stock, valued at $2,004,189.94. The trade was a 26.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Cipher Mining Trading Down 10.1%

Shares of CIFR opened at $13.62 on Friday. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $25.52. The company has a market capitalization of $5.52 billion, a P/E ratio of -6.31 and a beta of 2.96. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.79 and a quick ratio of 3.79. The firm’s 50 day simple moving average is $16.37 and its 200 day simple moving average is $15.52.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CIFR shares. Citizens Jmp set a $30.00 target price on shares of Cipher Mining in a research report on Wednesday, November 19th. Wells Fargo & Company set a $18.00 price target on Cipher Mining in a research report on Monday, November 24th. Keefe, Bruyette & Woods upped their price objective on Cipher Mining from $13.00 to $22.00 and gave the stock a “moderate buy” rating in a report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $12.00 to $18.00 in a report on Monday, November 24th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.46.

Hedge Funds Weigh In On Cipher Mining

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Cipher Mining by 43.2% during the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $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 fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock worth $154,524,000 after buying 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 fourth quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock worth $120,519,000 after buying an additional 558,105 shares during the period. State Street Corp lifted its stake 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 valued at $119,238,000 after acquiring an additional 745,030 shares during the last quarter. Finally, Value Aligned Research Advisors LLC lifted its stake 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 valued at $109,925,000 after acquiring an additional 2,342,958 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.