Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) CEO Tyler Page sold 112,500 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $21.19, for a total transaction of $2,383,875.00. Following the completion of the transaction, the chief executive officer owned 9,084,225 shares of the company's stock, valued at approximately $192,494,727.75. This trade represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cipher Mining Trading Down 4.9%
NASDAQ CIFR traded down $1.15 on Friday, reaching $22.11. The company had a trading volume of 16,447,125 shares, compared to its average volume of 22,877,190. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of -9.49 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 fifty-two week low of $4.55 and a fifty-two week high of $30.14. The business has a 50 day moving average of $23.17 and a two-hundred day moving average of $18.53.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business's revenue for the quarter was down 28.8% compared to the same quarter last year. Analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.
Hedge Funds Weigh In On Cipher Mining
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC grew its stake in shares of Cipher Mining by 41.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,700 shares of the company's stock valued at $42,000 after buying an additional 500 shares during the period. Abel Hall LLC raised its stake in Cipher Mining by 3.8% during the 1st quarter. Abel Hall LLC now owns 20,140 shares of the company's stock worth $259,000 after buying an additional 739 shares during the period. Rathbones Group PLC boosted its holdings in Cipher Mining by 7.0% in the first quarter. Rathbones Group PLC now owns 11,495 shares of the company's stock worth $148,000 after acquiring an additional 750 shares in the last quarter. CWM LLC grew its stake in 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 acquiring an additional 804 shares during the period. Finally, Prospera Financial Services Inc increased its holdings in shares of Cipher Mining by 6.7% during the fourth quarter. Prospera Financial Services Inc now owns 15,600 shares of the company's stock valued at $230,000 after acquiring an additional 980 shares in the last quarter. Institutional investors own 12.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on CIFR. BTIG Research lifted their target price on shares of Cipher Mining from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Sanford C. Bernstein started coverage on Cipher Mining in a report on Wednesday, June 3rd. They set an "outperform" rating and a $32.00 price target for the company. HC Wainwright lifted their price objective on Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods boosted their price objective on Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Morgan Stanley cut their target price on Cipher Mining from $53.50 to $48.50 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cipher Mining has a consensus rating of "Moderate Buy" and a consensus target price of $28.31.
Check Out Our Latest Report on CIFR
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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