Cary Grossman Sells 25,000 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Cary Grossman sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $19.00, for a total transaction of $475,000.00. Following the transaction, the director owned 200,530 shares in the company, valued at approximately $3,810,070. The trade was a 11.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cipher Mining Stock Performance

CIFR stock traded up $1.19 during trading on Friday, reaching $20.34. 34,179,438 shares of the stock were exchanged, compared to its average volume of 30,040,479. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52. 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 $8.03 billion, a P/E ratio of -112.97 and a beta of 2.91. The stock has a 50 day simple moving average of $17.35 and a 200-day simple moving average of $9.74.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CIFR. Citigroup assumed coverage on Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating on the stock. Rosenblatt Securities raised their price target on Cipher Mining to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and issued a $27.00 price objective (up previously from $16.00) on shares of Cipher Mining in a research report on Tuesday, November 4th. Compass Point started coverage on shares of Cipher Mining in a report on Monday, September 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company set a $18.00 price objective on shares of Cipher Mining in a research report on Monday. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sherman Asset Management Inc. bought a new position in Cipher Mining during the 3rd quarter worth $25,000. Stoneridge Investment Partners LLC acquired a new stake in Cipher Mining in the 1st quarter worth about $29,000. Hollencrest Capital Management bought a new stake in Cipher Mining in the 3rd quarter valued at about $31,000. Peterson Wealth Services acquired a new position in shares of Cipher Mining during the 3rd quarter worth approximately $41,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Cipher Mining by 258.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after purchasing an additional 6,516 shares during the period. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.