Key Points
- Cipher Mining director Cary Grossman sold 15,000 shares on June 18 at an average price of $29.43, totaling $441,450. After the sale, he still held 143,829 shares valued at about $4.23 million.
- The company recently reported weaker-than-expected quarterly results, posting EPS of -$0.28 versus estimates of -$0.27 and revenue of $34.84 million, down 28.8% from a year earlier.
- Analyst sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $27.69, even as institutional ownership stands at 12.26% of shares.
Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) Director Cary Grossman sold 15,000 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $29.43, for a total transaction of $441,450.00. Following the completion of the sale, the director owned 143,829 shares in the company, valued at $4,232,887.47. This represents a 9.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Cipher Mining Stock Performance
Shares of CIFR opened at $27.64 on Wednesday. Cipher Mining Inc. has a 12-month low of $3.63 and a 12-month high of $30.14. The stock has a market cap of $11.31 billion, a P/E ratio of -11.86 and a beta of 3.18. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The company has a 50-day moving average of $21.92 and a two-hundred day moving average of $18.02.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $36.12 million. The company's revenue was down 28.8% compared to the same quarter last year. As a group, research analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CIFR. Jefferies Financial Group assumed coverage on Cipher Mining in a research report on Thursday, May 14th. They set a "buy" rating and a $32.00 price target for the company. Zacks Research raised Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. Cantor Fitzgerald dropped their price objective on Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Keefe, Bruyette & Woods boosted their target price on shares of Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, HC Wainwright upped their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.69.
Read Our Latest Research Report on Cipher Mining
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of CIFR. Abel Hall LLC boosted 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. Rathbones Group PLC increased its stake in Cipher Mining by 7.0% during the 1st quarter. Rathbones Group PLC now owns 11,495 shares of the company's stock worth $148,000 after buying an additional 750 shares during the period. CWM LLC increased its stake in Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company's stock worth $39,000 after buying an additional 804 shares during the period. Prospera Financial Services Inc lifted its holdings in Cipher Mining by 6.7% in the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company's stock worth $230,000 after buying an additional 980 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock worth $28,000 after buying an additional 1,286 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.
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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