Cipher Mining (NASDAQ:CIFR) CEO Tyler Page Sells 112,500 Shares

Cipher Mining Inc. (NASDAQ:CIFR) CEO Tyler Page sold 112,500 shares of Cipher Mining stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total value of $2,383,875.00. Following the completion of the sale, the chief executive officer directly owned 9,084,225 shares in the company, valued at approximately $192,494,727.75. This represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cipher Mining Stock Down 4.9%

Cipher Mining stock traded down $1.15 during mid-day trading on Friday, reaching $22.11. The company’s stock had a trading volume of 16,447,125 shares, compared to its average volume of 22,877,190. The business’s 50 day simple moving average is $23.17 and its 200 day simple moving average is $18.53. Cipher Mining Inc. has a 12 month low of $4.55 and a 12 month high of $30.14. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of -9.49 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The company had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining’s revenue was down 28.8% on a year-over-year basis. As a group, research analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on CIFR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Wednesday, June 24th. Cantor Fitzgerald reduced their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Keefe, Bruyette & Woods increased their price objective on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Jefferies Financial Group initiated coverage on shares of Cipher Mining in a research report on Thursday, May 14th. They set a “buy” rating and a $32.00 price target on the stock. Finally, HC Wainwright boosted their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.31.

Institutional Investors Weigh In On Cipher Mining

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