Cipher Mining (NASDAQ:CIFR) Director James Newsome Sells 3,758 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director James Newsome sold 3,758 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $26.60, for a total value of $99,962.80. Following the completion of the transaction, the director owned 128,530 shares of the company’s stock, valued at approximately $3,418,898. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Cipher Mining Trading Up 10.6%

CIFR opened at $29.13 on Friday. The firm has a market capitalization of $11.92 billion, a P/E ratio of -12.50 and a beta of 3.18. The firm’s 50 day moving average is $21.19 and its 200-day moving average is $17.82. Cipher Mining Inc. has a 52-week low of $3.29 and a 52-week high of $30.01. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $34.84 million for the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.Cipher Mining’s quarterly revenue was down 28.8% compared to the same quarter last year. Analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CIFR. Cantor Fitzgerald decreased their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a research report on Friday, March 27th. Rosenblatt Securities boosted their price target on Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. HC Wainwright increased their price target on Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC raised their price objective on Cipher Mining from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.69.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in Cipher Mining in the fourth quarter worth about $25,000. Arax Advisory Partners grew its position in shares of Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after acquiring an additional 1,338 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after acquiring an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Cipher Mining during the 4th quarter valued at approximately $28,000. Finally, Danske Bank A S raised its position in shares of Cipher Mining by 1,150.0% during the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after acquiring an additional 2,300 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.