Key Points
- Director sale: Cipher Mining director James Newsome sold 3,342 shares on May 11 at an average price of $20.96, reducing his stake by 2.46%. He still directly owns 132,288 shares worth about $2.77 million.
- Stock and business performance: CIFR stock was up 10.6% and opened at $29.13, near its 52-week high of $30.01. The company recently reported a quarterly loss of $0.28 per share and revenue of $34.84 million, both slightly below expectations.
- Analyst sentiment remains bullish: Wall Street currently has a consensus rating of Moderate Buy on Cipher Mining, with an average target price of $27.69. Recent analyst actions included target price increases from Rosenblatt and Needham, though some mixed ratings remain.
Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) Director James Newsome sold 3,342 shares of Cipher Mining stock in a transaction on Monday, May 11th. The stock was sold at an average price of $20.96, for a total value of $70,048.32. Following the completion of the sale, the director directly owned 132,288 shares of the company's stock, valued at approximately $2,772,756.48. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Cipher Mining Stock Up 10.6%
CIFR stock opened at $29.13 on Friday. The stock has a market capitalization of $11.92 billion, a P/E ratio of -12.50 and a beta of 3.18. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. Cipher Mining Inc. has a 1-year low of $3.29 and a 1-year high of $30.01. The business has a fifty day moving average price of $21.19 and a 200-day moving average price of $17.82.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business had revenue of $34.84 million for the quarter, compared to analysts' expectations of $36.12 million. The firm's revenue was down 28.8% compared to the same quarter last year. Equities analysts forecast that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cipher Mining
Several large investors have recently added to or reduced their stakes in CIFR. Los Angeles Capital Management LLC bought a new position in shares of Cipher Mining in the fourth quarter worth approximately $25,000. 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 worth $27,000 after purchasing an additional 1,338 shares in the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 1,286 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining during the 4th quarter valued at $28,000. Finally, Danske Bank A S lifted its stake 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 buying an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on CIFR shares. Zacks Research upgraded shares of Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. Cantor Fitzgerald lowered their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Rosenblatt Securities raised their target price on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cipher Mining in a research report on Friday, March 27th. Finally, Needham & Company LLC boosted their target price on shares of Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.69.
View Our Latest Report on Cipher Mining
Cipher Mining Company Profile
(
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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