Cipher Mining (NASDAQ:CIFR) Director Sells $441,450.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Cary Grossman sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $29.43, for a total value of $441,450.00. Following the transaction, the director owned 143,829 shares in the company, valued at approximately $4,232,887.47. This represents a 9.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cipher Mining Price Performance

CIFR stock opened at $25.68 on Friday. The firm has a market cap of $10.50 billion, a P/E ratio of -11.02 and a beta of 3.18. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.13 and a current ratio of 3.13. Cipher Mining Inc. has a 1 year low of $3.65 and a 1 year high of $30.14. The stock has a 50-day simple moving average of $22.23 and a 200-day simple moving average of $18.11.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The company 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 revenue was down 28.8% on a year-over-year basis. On average, equities analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CIFR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research report on Friday, March 27th. Keefe, Bruyette & Woods raised their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Sanford C. Bernstein began coverage on shares of Cipher Mining in a research note on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 price target on the stock. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Finally, Morgan Stanley decreased their price objective on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and a consensus target price of $28.31.

Institutional Trading of Cipher Mining

Several hedge funds and other institutional investors have recently bought and sold shares of CIFR. Los Angeles Capital Management LLC bought a new position in Cipher Mining during the 4th quarter worth approximately $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. bought a new stake in shares of Cipher Mining in 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. 12.26% of the stock is owned by institutional investors.

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.