Key Points
- Director Cary Grossman sold 20,000 Cipher Mining shares at $21.82 each, totaling about $436,400 and reducing his stake by 11.73%. The trade was disclosed in an SEC filing.
- Cipher Mining’s latest earnings missed expectations slightly, posting a loss of $0.28 per share on revenue of $34.84 million. Revenue fell 28.8% year over year, and the company remains unprofitable.
- Analyst sentiment is still generally bullish, with several firms raising price targets and an average rating of “Moderate Buy.” The consensus price target is $26.29, above the stock’s recent trading price.
Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) Director Cary Grossman sold 20,000 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total transaction of $436,400.00. Following the completion of the sale, the director owned 150,530 shares in the company, valued at approximately $3,284,564.60. This trade represents a 11.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Cipher Mining Stock Performance
Shares of Cipher Mining stock opened at $20.55 on Friday. The firm has a market cap of $8.41 billion, a PE ratio of -8.82 and a beta of 3.13. The firm's 50-day simple moving average is $15.99 and its 200-day simple moving average is $16.83. The company has a debt-to-equity ratio of 6.13, a quick ratio of 3.79 and a current ratio of 3.13. Cipher Mining Inc. has a 1 year low of $2.95 and a 1 year high of $25.52.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). The company had revenue of $34.84 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. Equities analysts forecast that Cipher Mining Inc. will post -0.9 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cipher Mining
Several large investors have recently made changes to their positions in the company. Abel Hall LLC increased its stake in shares of Cipher Mining by 3.8% in the first quarter. Abel Hall LLC now owns 20,140 shares of the company's stock valued at $259,000 after purchasing an additional 739 shares during the period. CWM LLC increased its stake in shares of Cipher Mining by 43.3% in the fourth quarter. CWM LLC now owns 2,661 shares of the company's stock valued at $39,000 after purchasing an additional 804 shares during the period. Prospera Financial Services Inc increased its stake in shares of Cipher Mining by 6.7% in the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company's stock valued at $230,000 after purchasing an additional 980 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 1,286 shares during the period. Finally, Arax Advisory Partners increased its stake 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 valued at $27,000 after purchasing an additional 1,338 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CIFR shares. Rosenblatt Securities increased their price objective on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday. Zacks Research upgraded shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. BTIG Research reiterated a "buy" rating and set a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday. Morgan Stanley reiterated an "overweight" rating and set a $40.50 price objective on shares of Cipher Mining in a research note on Monday, April 27th. Finally, Wall Street Zen lowered shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $26.29.
View Our Latest Analysis on CIFR
Cipher Mining News Roundup
Here are the key news stories impacting Cipher Mining this week:
- Positive Sentiment: Rosenblatt Securities raised its price target on Cipher Mining to $30 from $24 and reiterated a buy rating, signaling confidence in further upside. Rosenblatt Securities Raises Price Target on Cipher Mining
- Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $27 from $23 and kept an outperform rating, which reinforced the bullish analyst trend. Cipher Mining Price Target Raised by Keefe, Bruyette & Woods
- Positive Sentiment: HC Wainwright also reportedly increased its price target to $30, adding another vote of confidence in Cipher Mining’s outlook. Cipher Mining Given New Price Target at HC Wainwright
- Positive Sentiment: News coverage highlighted Cipher Mining’s momentum tied to large AI campus leases and a $2.2 billion financing, which supports the company’s growth story and could attract momentum investors. Cipher Digital Is Up After Massive AI Campus Leases And Financing
- Neutral Sentiment: Cipher Mining said it will participate in several upcoming investor and industry conferences, which may help keep the company visible but does not change fundamentals by itself. Cipher Digital Announces Participation in Upcoming Investor and Industry Conferences
- Negative Sentiment: Director Cary M. Grossman sold 20,000 shares, trimming his stake by 11.73%, which can be viewed as a mild confidence signal against the stock. Cary M. Grossman Insider Sale SEC Filing
- Negative Sentiment: Director Wesley Hastie Williams sold 28,169 shares, reducing his position by 17.81%, adding a second insider-sale headline that may temper enthusiasm. Wesley Hastie Williams Insider Sale SEC Filing
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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