Insider Selling: Cipher Mining (NASDAQ:CIFR) Director Sells $311,879.47 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Wesley Hastie Williams sold 14,567 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total value of $311,879.47. Following the completion of the transaction, the director directly owned 115,409 shares in the company, valued at approximately $2,470,906.69. This represents a 11.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wesley Hastie Williams also recently made the following trade(s):

• On Wednesday, May 6th, Wesley Hastie Williams sold 28,169 shares of Cipher Mining stock. The shares were sold at an average price of $22.26, for a total value of $627,041.94.

Cipher Mining Stock Performance

Shares of CIFR opened at $21.97 on Monday. The firm has a market cap of $8.99 billion, a PE ratio of -9.43 and a beta of 3.13. The stock’s fifty day moving average price is $17.18 and its two-hundred day moving average price is $16.93. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. Cipher Mining Inc. has a 1 year low of $3.08 and a 1 year high of $25.52.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business’s revenue was down 28.8% compared to the same quarter last year. On average, equities research analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Institutional Trading of Cipher Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of Cipher Mining by 237.7% during the 1st quarter. Bank of America Corp DE now owns 1,414,667 shares of the company’s stock valued at $18,207,000 after purchasing an additional 995,735 shares during the period. Janus Henderson Group PLC raised its stake in shares of Cipher Mining by 1.9% during the 1st quarter. Janus Henderson Group PLC now owns 4,373,982 shares of the company’s stock valued at $56,292,000 after purchasing an additional 81,192 shares during the period. Amundi bought a new stake in shares of Cipher Mining during the 1st quarter valued at $198,000. EverSource Wealth Advisors LLC raised its stake in shares of Cipher Mining by 259.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,357 shares of the company’s stock valued at $43,000 after purchasing an additional 2,423 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Cipher Mining by 22.2% during the 1st quarter. California State Teachers Retirement System now owns 365,966 shares of the company’s stock valued at $4,710,000 after purchasing an additional 66,518 shares during the period. 12.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CIFR. Rosenblatt Securities boosted their target price on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. BTIG Research restated a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods boosted their target price on Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

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.