Cipher Mining (NASDAQ:CIFR) Director Sells $200,002.88 in Stock

Key Points

• Director James Newsome of Cipher Mining sold 32,468 shares for a total of $200,002.88, reducing his ownership by 14.32%.
• Cipher Mining's shares traded down 4.8% to $5.76, while the company reported a negative net margin of 96.95% and missed revenue estimates.
• Analysts have mixed ratings, with an average rating of "Moderate Buy" and a consensus price target of $7.67 for Cipher Mining.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) Director James Newsome sold 32,468 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.16, for a total transaction of $200,002.88. Following the completion of the transaction, the director directly owned 194,313 shares of the company's stock, valued at approximately $1,196,968.08. The trade was a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Cipher Mining Trading Down 4.8%

NASDAQ CIFR traded down $0.29 on Tuesday, reaching $5.76. The company had a trading volume of 25,929,867 shares, compared to its average volume of 25,170,864. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.77. The company's fifty day moving average is $5.23 and its 200-day moving average is $4.14.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The firm had revenue of $43.57 million during the quarter, compared to analyst estimates of $51.89 million. Research analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CIFR shares. Canaccord Genuity Group increased their price objective on shares of Cipher Mining from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Tuesday. HC Wainwright restated a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Rosenblatt Securities restated a "buy" rating and set a $5.50 price objective on shares of Cipher Mining in a research note on Wednesday, May 7th. Cantor Fitzgerald increased their price objective on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Finally, Macquarie increased their price objective on shares of Cipher Mining from $6.00 to $8.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Cipher Mining presently has an average rating of "Moderate Buy" and a consensus price target of $7.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CIFR. Wells Fargo & Company MN raised its holdings in Cipher Mining by 56.3% in the 4th quarter. Wells Fargo & Company MN now owns 114,524 shares of the company's stock valued at $531,000 after acquiring an additional 41,261 shares during the period. Russell Investments Group Ltd. raised its holdings in Cipher Mining by 17.4% in the 4th quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock valued at $67,000 after acquiring an additional 2,149 shares during the period. Legal & General Group Plc raised its holdings in Cipher Mining by 16.1% in the 4th quarter. Legal & General Group Plc now owns 223,903 shares of the company's stock valued at $1,039,000 after acquiring an additional 31,091 shares during the period. Summit Investment Advisors Inc. raised its holdings in Cipher Mining by 25.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 21,187 shares of the company's stock valued at $98,000 after acquiring an additional 4,272 shares during the period. Finally, Barclays PLC raised its holdings in Cipher Mining by 24.1% in the 4th quarter. Barclays PLC now owns 367,985 shares of the company's stock valued at $1,708,000 after acquiring an additional 71,492 shares during the period. 12.26% of the stock is owned by institutional investors.

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.

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