Cipher Mining (NASDAQ:CIFR) Director Sells $311,879.47 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Wesley Hastie Williams sold 14,567 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $21.41, for a total transaction of $311,879.47. Following the completion of the sale, the director directly owned 115,409 shares of the company’s stock, valued at $2,470,906.69. The trade was a 11.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wesley Hastie Williams also recently made the following trade(s):

• On Wednesday, May 6th, Wesley Hastie Williams sold 28,169 shares of Cipher Mining stock. The stock was sold at an average price of $22.26, for a total transaction of $627,041.94.

Cipher Mining Trading Up 2.1%

Shares of Cipher Mining stock traded up $0.45 during trading hours on Friday, hitting $21.97. The company’s stock had a trading volume of 19,384,786 shares, compared to its average volume of 27,846,924. Cipher Mining Inc. has a 1-year low of $3.08 and a 1-year high of $25.52. The business has a fifty day moving average of $17.02 and a 200 day moving average of $16.93. The company has a market capitalization of $8.99 billion, a PE ratio of -9.43 and a beta of 3.13. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The business had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, equities analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

CIFR has been the subject of a number of recent analyst reports. HC Wainwright raised their price target 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. Rosenblatt Securities raised their price target on shares of Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Sunday, March 1st. Finally, Morgan Stanley raised their price target on shares of Cipher Mining to $42.50 and gave the company an “overweight” rating in a report on Tuesday. Fifteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.00.

Institutional Investors Weigh In On Cipher Mining

A number of large investors have recently added to or reduced their stakes in the company. Abel Hall LLC grew its holdings 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 acquiring an additional 739 shares in the last quarter. CWM LLC grew its holdings 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 acquiring an additional 804 shares in the last quarter. Prospera Financial Services Inc grew its holdings in Cipher Mining by 6.7% during the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock worth $230,000 after acquiring an additional 980 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after acquiring an additional 1,286 shares in the last quarter. Finally, Arax Advisory Partners grew its holdings in Cipher Mining by 274.2% during the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after acquiring an additional 1,338 shares in the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

Cipher Mining Company Profile

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.