Key Points
- Cipher Mining director Wesley Hastie Williams sold 14,567 shares on May 21 at an average price of $21.41, generating about $311,879. This reduced his direct holdings by 11.21% to 115,409 shares.
- Williams also sold 28,169 shares on May 6 at an average price of $22.26, indicating a recent pattern of insider selling.
- Cipher Mining recently reported a Q1 earnings miss with EPS of -$0.28 versus -$0.27 expected and revenue of $34.84 million versus $36.12 million expected, though analysts still rate the stock a Moderate Buy with an average target price of $27.00.
Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) Director Wesley Hastie Williams sold 14,567 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $21.41, for a total transaction of $311,879.47. Following the sale, the director directly owned 115,409 shares of the company's stock, valued at $2,470,906.69. This trade represents a 11.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 transaction of $627,041.94.
Cipher Mining Price Performance
Shares of CIFR opened at $21.97 on Friday. The company has a market capitalization of $8.99 billion, a P/E ratio of -9.43 and a beta of 3.13. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. The firm has a 50 day moving average of $17.18 and a 200 day moving average of $16.97. Cipher Mining Inc. has a twelve month low of $3.08 and a twelve month high of $25.52.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $34.84 million for 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%. Cipher Mining's quarterly revenue was down 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of CIFR. Los Angeles Capital Management LLC purchased a new position in shares of Cipher Mining during the 4th quarter valued at $25,000. Arax Advisory Partners lifted its stake in shares of Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock valued at $27,000 after buying an additional 1,338 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Cipher Mining by 218.3% during the 4th 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cipher Mining during the 4th quarter valued at $28,000. Finally, Sherman Asset Management Inc. purchased a new position in shares of Cipher Mining during the 3rd quarter valued at $25,000. Hedge funds and other institutional investors own 12.26% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on CIFR. HC Wainwright lifted their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research report on Sunday, March 1st. Cantor Fitzgerald cut their target price on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Rosenblatt Securities lifted their target price on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cipher Mining in a research report on Friday, March 27th. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Cipher Mining currently has a consensus rating of "Moderate Buy" and an average price target of $27.00.
Get Our Latest Report on CIFR
Cipher Mining Company Profile
(
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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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