Cipher Mining Inc. (NASDAQ:CIFR) Insider Sells $591,000.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the completion of the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $4.11 on Friday. The stock’s 50-day moving average price is $3.93 and its 200 day moving average price is $4.20. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.27 billion, a PE ratio of 68.50 and a beta of 2.24. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. During the same quarter last year, the firm earned ($0.05) earnings per share. As a group, equities research analysts forecast that Cipher Mining Inc. will post -0.05 EPS for the current year.

Analyst Ratings Changes

CIFR has been the topic of a number of research reports. HC Wainwright raised their price objective on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 target price on shares of Cipher Mining in a report on Tuesday, September 3rd. Northland Securities initiated coverage on shares of Cipher Mining in a report on Wednesday. They issued an “outperform” rating and a $6.00 price objective for the company. Macquarie started coverage on shares of Cipher Mining in a research note on Tuesday, September 24th. They set an “outperform” rating and a $6.00 target price on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Cipher Mining has an average rating of “Buy” and a consensus price target of $7.21.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds have recently bought and sold shares of the company. First Financial Bankshares Inc acquired a new stake in shares of Cipher Mining during the fourth quarter valued at $9,901,000. Vanguard Group Inc. lifted its holdings in Cipher Mining by 62.0% in the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after purchasing an additional 2,164,383 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Cipher Mining by 38.9% during the 1st quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after purchasing an additional 765,238 shares during the last quarter. Swiss National Bank grew its holdings in shares of Cipher Mining by 27.0% during the first quarter. Swiss National Bank now owns 125,600 shares of the company’s stock worth $647,000 after buying an additional 26,700 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Cipher Mining in the second quarter valued at approximately $1,332,000. 12.26% of the stock is owned by hedge funds and other institutional investors.

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.