Insider Selling: Cipher Mining (NASDAQ:CIFR) COO Sells 35,568 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock in a transaction on Monday, March 16th. The stock was sold at an average price of $14.98, for a total transaction of $532,808.64. Following the sale, the chief operating officer owned 1,441,508 shares of the company’s stock, valued at $21,593,789.84. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Patrick Arthur Kelly also recently made the following trade(s):

• On Thursday, January 15th, Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock. The stock was sold at an average price of $17.76, for a total value of $631,687.68.

Cipher Mining Stock Performance

CIFR traded down $0.03 on Thursday, reaching $14.64. 18,826,937 shares of the stock were exchanged, compared to its average volume of 29,459,465. 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 company’s 50-day moving average price is $16.13 and its 200 day moving average price is $16.02. The firm has a market capitalization of $5.93 billion, a PE ratio of -6.78 and a beta of 2.96. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $25.52.

Institutional Trading of Cipher Mining

A number of hedge funds have recently added to or reduced their stakes in CIFR. Vanguard Group Inc. increased its holdings in Cipher Mining by 43.2% in 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 in the last quarter. Situational Awareness LP grew its position in shares of Cipher Mining by 82.4% during 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 grew its position in shares of Cipher Mining by 7.3% during 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 increased 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 purchasing an additional 745,030 shares in the last quarter. Finally, Value Aligned Research Advisors LLC lifted its position in shares of Cipher Mining by 45.9% during 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 buying an additional 2,342,958 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CIFR. Zacks Research lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. HC Wainwright cut their price objective on shares of Cipher Mining to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Rosenblatt Securities reissued a “buy” rating and set a $24.00 target price on shares of Cipher Mining in a report on Thursday. Keefe, Bruyette & Woods lowered their price target on shares of Cipher Mining from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.00 to $18.00 in a research report on Monday, November 24th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.68.

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.