Cipher Mining (NASDAQ:CIFR) Shares Down 9% After Insider Selling

Key Points

• Cipher Mining shares fell about 9% after insider selling, with COO Patrick Arthur Kelly selling 48,000 shares for roughly $929,280. The stock traded as low as $20.20 on lighter-than-average volume.
• Analysts remain broadly bullish despite the pullback, with firms like Needham, HC Wainwright, and Keefe, Bruyette & Woods raising price targets and/or reiterating buy ratings. The consensus target price is about $26.87.
• Recent fundamentals were weak, as Cipher Mining missed quarterly EPS and revenue estimates and remains unprofitable. Revenue also declined 28.8% year over year, keeping valuation and execution risks in focus.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) shares dropped 9% during trading on Friday following insider selling activity. The stock traded as low as $20.20 and last traded at $20.2750. Approximately 3,898,619 shares traded hands during trading, a decline of 86% from the average daily volume of 27,910,035 shares. The stock had previously closed at $22.29.

Specifically, COO Patrick Arthur Kelly sold 48,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $19.36, for a total value of $929,280.00. Following the completion of the sale, the chief operating officer directly owned 1,451,856 shares in the company, valued at approximately $28,107,932.16. The trade was a 3.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. HC Wainwright raised their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Cipher Mining in a report on Friday, March 27th. Wall Street Zen downgraded shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a report on Sunday, March 1st. Finally, Needham & Company LLC increased their price objective on shares of Cipher Mining from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.87.

Cipher Mining News Summary

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: Needham & Company raised its price target on Cipher Mining from $22 to $25 and reiterated a Buy rating, signaling continued upside potential from current levels.
• Positive Sentiment: Jefferies upgraded Cipher Mining to Strong Buy, adding to the cluster of bullish broker calls on the stock.
• Positive Sentiment: HC Wainwright lifted earnings estimates for Q2, Q3, Q4 and full-year 2026 while keeping a Buy rating and a $30 target, suggesting analysts see improving operating performance.
• Positive Sentiment: Northland Securities slightly raised its Q2 2026 EPS estimate, which also points to modestly better near-term results than previously expected.
• Neutral Sentiment: Crypto-miner stocks with AI exposure were highlighted in an Investopedia article as potential winners, reinforcing the broader positive sentiment around the sector. Bitcoin Miners That Got Into AI Have Soaring Stocks. These Experts See More Gains Ahead
• Negative Sentiment: COO Patrick Arthur Kelly sold 48,000 shares worth about $929,280, which can create some investor overhang even though he still retains a large position.
• Negative Sentiment: Despite the upbeat analyst notes, Cipher Mining’s latest earnings report missed estimates on both EPS and revenue and the company remains unprofitable, keeping fundamental risk in focus.

Cipher Mining Trading Down 8.9%

The company has a market cap of $8.31 billion, a price-to-earnings ratio of -8.78 and a beta of 3.13. The business's fifty day moving average price is $16.50 and its 200 day moving average price is $16.92. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). The company had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The business's revenue for the quarter was down 28.8% compared to the same quarter last year. Research analysts anticipate that Cipher Mining Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Cipher Mining

Several institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new position in Cipher Mining during the fourth quarter worth $25,000. Arax Advisory Partners boosted its position in Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock valued at $27,000 after acquiring an additional 1,338 shares during the last quarter. GAMMA Investing LLC boosted its position in Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock valued at $28,000 after acquiring an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Cipher Mining during the 4th quarter worth about $28,000. Finally, Sherman Asset Management Inc. acquired a new stake in Cipher Mining during the 3rd quarter worth about $25,000. 12.26% of the stock is currently owned by institutional investors.

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.

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