Key Points
- COO Patrick Arthur Kelly sold 35,568 shares on March 16 at an average price of $14.98 for about $532,808, trimming his stake by 2.41% to 1,441,508 shares (≈$21.6M).
- Cipher Mining shares opened at $14.64, trade in a one-year range of $1.86–$25.52, have a market cap of $5.93B and a negative P/E of -6.78; analysts' consensus is a Moderate Buy with an average price target of $23.68, though ratings vary from sell to buy.
- Institutional ownership is relatively low at about 12.26%, with several small new or increased positions reported in the fourth quarter.
Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) COO Patrick Arthur Kelly sold 35,568 shares of the company's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $14.98, for a total value of $532,808.64. Following the transaction, the chief operating officer directly owned 1,441,508 shares in the company, valued at approximately $21,593,789.84. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Patrick Arthur Kelly also recently made the following trade(s):
- On Thursday, January 15th, Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock. The shares were sold at an average price of $17.76, for a total value of $631,687.68.
Cipher Mining Stock Down 0.2%
Cipher Mining stock opened at $14.64 on Friday. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $25.52. The business has a fifty day moving average price of $16.09 and a 200-day moving average price of $16.01. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.79 and a quick ratio of 3.79. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of -6.78 and a beta of 2.96.
Institutional Trading of Cipher Mining
Several large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Cipher Mining in the fourth quarter valued at about $25,000. Arax Advisory Partners lifted its holdings in shares of Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock worth $27,000 after purchasing an additional 1,338 shares during the period. GAMMA Investing LLC boosted its position in Cipher Mining by 218.3% in the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock valued at $28,000 after buying an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Cipher Mining in the fourth quarter valued at approximately $28,000. Finally, Sherman Asset Management Inc. acquired a new position in Cipher Mining in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 12.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on CIFR shares. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a research note on Monday, December 29th. Wall Street Zen lowered shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research report on Sunday, March 1st. Canaccord Genuity Group reiterated a "buy" rating and issued a $27.00 target price on shares of Cipher Mining in a research note on Monday, December 15th. Wells Fargo & Company set a $18.00 target price on shares of Cipher Mining in a research report on Monday, November 24th. Finally, HC Wainwright cut their price target on shares of Cipher Mining to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.68.
Read Our Latest Report on Cipher Mining
About Cipher Mining
(
Get Free Report)
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.
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