Cipher Mining (NASDAQ:CIFR) COO Patrick Arthur Kelly Sells 26,580 Shares

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 26,580 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $14.20, for a total transaction of $377,436.00. Following the completion of the sale, the chief operating officer owned 1,187,339 shares in the company, valued at $16,860,213.80. This represents a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Patrick Arthur Kelly also recently made the following trade(s):

• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The stock was sold at an average price of $14.20, for a total transaction of $377,436.00.
• On Wednesday, October 15th, Patrick Arthur Kelly sold 26,581 shares of Cipher Mining stock. The shares were sold at an average price of $21.08, for a total value of $560,327.48.
• On Monday, September 15th, Patrick Arthur Kelly sold 44,870 shares of Cipher Mining stock. The shares were sold at an average price of $10.80, for a total value of $484,596.00.

Cipher Mining Price Performance

CIFR traded up $0.04 on Wednesday, reaching $14.62. The stock had a trading volume of 39,525,589 shares, compared to its average volume of 29,432,152. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of -81.22 and a beta of 2.91. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $25.52. The firm has a 50-day moving average of $16.42 and a 200-day moving average of $9.05.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. As a group, sell-side analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cipher Mining by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock worth $287,236,000 after acquiring an additional 2,699,717 shares in the last quarter. Geode Capital Management LLC grew its stake in Cipher Mining by 18.1% during the second quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company’s stock worth $34,621,000 after purchasing an additional 1,108,850 shares during the period. Tidal Investments LLC grew its stake in Cipher Mining by 28.3% during the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after purchasing an additional 1,541,138 shares during the period. Invesco Ltd. increased its holdings in Cipher Mining by 40.0% in the third quarter. Invesco Ltd. now owns 6,852,074 shares of the company’s stock worth $86,268,000 after purchasing an additional 1,958,385 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Cipher Mining by 64.9% in the third quarter. Two Sigma Investments LP now owns 6,746,401 shares of the company’s stock valued at $84,937,000 after buying an additional 2,655,015 shares during the period. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Northland Securities set a $27.50 target price on shares of Cipher Mining in a report on Tuesday, November 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cipher Mining in a research note on Monday. Citizens Jmp assumed coverage on Cipher Mining in a research report on Wednesday. They set a “market outperform” rating and a $30.00 target price for the company. Compass Point started coverage on Cipher Mining in a report on Monday, September 15th. They set a “buy” rating on the stock. Finally, Arete Research began coverage on Cipher Mining in a research note on Wednesday, September 24th. They issued a “buy” rating and a $24.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.73.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.