Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly Sells 89,742 Shares

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the sale, the chief operating officer now owns 717,431 shares in the company, valued at approximately $3,135,173.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cipher Mining Price Performance

CIFR stock opened at $4.82 on Friday. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $7.99. The firm has a 50-day moving average of $3.65 and a two-hundred day moving average of $4.18. The firm has a market capitalization of $1.49 billion, a PE ratio of 80.33 and a beta of 2.25. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The firm had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. During the same quarter last year, the business posted ($0.05) EPS. On average, analysts forecast that Cipher Mining Inc. will post -0.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CIFR. Stifel Canada upgraded Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research report on Thursday, August 29th. Needham & Company LLC raised their price objective on shares of Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a research note on Thursday, October 3rd. Finally, Compass Point increased their target price on shares of Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $7.21.

Institutional Trading of Cipher Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in Cipher Mining by 21.7% in the 2nd quarter. Victory Capital Management Inc. now owns 23,895 shares of the company’s stock worth $99,000 after acquiring an additional 4,256 shares in the last quarter. Amalgamated Bank lifted its position in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Cipher Mining by 50.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 5,000 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Cipher Mining by 25.0% during the first quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock worth $258,000 after purchasing an additional 10,000 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Cipher Mining during the first quarter valued at approximately $52,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Company Profile

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.