Cipher Mining (NASDAQ:CIFR) Shares Down 5% - Should You Sell?

Key Points

• Shares fell about 5% to $18.67 on Tuesday with volume around 34.1 million shares (up ~18% vs. average) after an intraday low of $18.02 versus a prior close of $19.65.
• Wall Street is largely positive on CIFR — 12 Buy ratings, consensus "Moderate Buy" and an average target of $23.77, with several firms recently raising price targets into the $26–$33 range.
• Cipher beat EPS (-$0.01 vs. -$0.08 est.) but missed revenue ($71.7M vs. $79.1M), reports negative net margin and ROE, and has seen significant insider selling (Holding Ltd V3 sold 3.5M shares; ~20.8M shares sold by insiders in the last 90 days).

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report)'s stock price was down 5% during trading on Tuesday . The stock traded as low as $18.02 and last traded at $18.67. Approximately 34,131,709 shares were traded during trading, an increase of 18% from the average daily volume of 28,959,098 shares. The stock had previously closed at $19.65.

Wall Street Analysts Forecast Growth

CIFR has been the topic of several recent research reports. Rosenblatt Securities raised their price target on Cipher Mining to $33.00 and gave the stock a "buy" rating in a report on Tuesday, November 4th. Compass Point assumed coverage on Cipher Mining in a research report on Monday, September 15th. They issued a "buy" rating on the stock. Macquarie boosted their price target on shares of Cipher Mining from $16.00 to $27.00 and gave the company an "outperform" rating in a report on Wednesday, October 22nd. HC Wainwright upped their price target on shares of Cipher Mining to $30.00 and gave the stock a "buy" rating in a research report on Monday, November 3rd. Finally, Needham & Company LLC increased their price objective on shares of Cipher Mining from $15.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.77.

Cipher Mining Price Performance

The business has a fifty day moving average price of $15.50 and a 200 day moving average price of $8.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of -103.72 and a beta of 2.91.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. The business had revenue of $71.71 million during the quarter, compared to the consensus estimate of $79.13 million. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. On average, research analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Holding Ltd V3 sold 3,504,540 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $12.36, for a total transaction of $43,316,114.40. Following the sale, the insider owned 71,437,719 shares of the company's stock, valued at $882,970,206.84. The trade was a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 20,822,449 shares of company stock valued at $279,929,441 in the last ninety days. Company insiders own 2.63% of the company's stock.

Institutional Trading of Cipher Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Helix Partners Management LP raised its position in Cipher Mining by 95.8% in the first quarter. Helix Partners Management LP now owns 4,400,000 shares of the company's stock worth $10,120,000 after acquiring an additional 2,153,058 shares in the last quarter. Greenleaf Trust acquired a new position in shares of Cipher Mining in the 2nd quarter worth approximately $108,000. Impact Partnership Wealth LLC bought a new stake in shares of Cipher Mining in the 1st quarter worth approximately $109,000. SRN Advisors LLC raised its holdings in shares of Cipher Mining by 42.1% in the 1st quarter. SRN Advisors LLC now owns 284,148 shares of the company's stock worth $654,000 after purchasing an additional 84,148 shares in the last quarter. Finally, Anthracite Investment Company Inc. acquired a new stake in Cipher Mining during the second quarter valued at approximately $163,000. Institutional investors 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.

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