Key Points
- Insider sale: Director Holly Morrow Evans sold 15,000 shares on Nov. 26 at an average of $18.74 for $281,100, lowering her stake to 195,512 shares (a 7.13% decrease); she also sold 16,269 shares on Nov. 12 at $17.39.
- Earnings beat but still unprofitable: Cipher Mining reported quarterly EPS of (‑$0.01) versus estimates of (‑$0.08) and revenue of $106.69M versus $79.13M, yet the company remains loss-making with negative margins and ROE.
- Analyst sentiment: The consensus rating is "Moderate Buy" with a $24.68 target, and several firms have raised targets/ratings recently (examples: Needham $26, JMP $30, JPMorgan upgraded to overweight).
Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) Director Holly Morrow Evans sold 15,000 shares of the firm's stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $18.74, for a total transaction of $281,100.00. Following the transaction, the director directly owned 195,512 shares in the company, valued at approximately $3,663,894.88. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Holly Morrow Evans also recently made the following trade(s):
- On Wednesday, November 12th, Holly Morrow Evans sold 16,269 shares of Cipher Mining stock. The shares were sold at an average price of $17.39, for a total transaction of $282,917.91.
Cipher Mining Stock Performance
Shares of NASDAQ:CIFR opened at $20.34 on Friday. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $25.52. The company's 50 day moving average price is $17.35 and its two-hundred day moving average price is $9.74. The firm has a market cap of $8.03 billion, a PE ratio of -112.97 and a beta of 2.91. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.07. The company had revenue of $106.69 million during the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. Equities research analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sherman Asset Management Inc. acquired a new position in Cipher Mining during the third quarter worth about $25,000. Hollencrest Capital Management acquired a new stake in shares of Cipher Mining in the 3rd quarter valued at approximately $31,000. Peterson Wealth Services bought a new stake in shares of Cipher Mining during the 3rd quarter valued at approximately $41,000. Parallel Advisors LLC increased its position in Cipher Mining by 663.0% during the 3rd quarter. Parallel Advisors LLC now owns 4,166 shares of the company's stock worth $52,000 after purchasing an additional 3,620 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Cipher Mining by 184.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,328 shares of the company's stock valued at $67,000 after purchasing an additional 3,454 shares during the last quarter. Institutional investors own 12.26% of the company's stock.
Wall Street Analyst Weigh In
CIFR has been the subject of a number of recent analyst reports. Needham & Company LLC upped their target price on Cipher Mining from $15.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, November 4th. Wells Fargo & Company set a $18.00 price target on Cipher Mining in a research note on Monday. Citigroup assumed coverage on shares of Cipher Mining in a research note on Wednesday, November 19th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. raised shares of Cipher Mining from a "neutral" rating to an "overweight" rating and raised their target price for the company from $12.00 to $18.00 in a report on Monday, November 24th. Finally, JMP Securities set a $30.00 price target on shares of Cipher Mining in a report on Wednesday, November 19th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cipher Mining has a consensus rating of "Moderate Buy" and a consensus target price of $24.68.
Read Our Latest Analysis on Cipher Mining
Cipher Mining Company Profile
(
Get Free Report)
Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.
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