Patrick Arthur Kelly Sells 44,871 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Key Points

• Patrick Arthur Kelly, the COO of Cipher Mining Inc., sold 44,871 shares of the company's stock for approximately $233,329 on August 15, reducing his ownership by 3.96%.
• Cipher Mining's stock price recently traded at $5.76, with a 52-week range of $1.86 to $7.77, while the company reported earnings of ($0.12) per share, matching analysts' expectations but falling short on revenue.
• Analysts have mixed ratings on Cipher Mining, with a consensus rating of "Moderate Buy" and a price target of $7.67.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) COO Patrick Arthur Kelly sold 44,871 shares of Cipher Mining stock in a transaction on Friday, August 15th. The stock was sold at an average price of $5.20, for a total transaction of $233,329.20. Following the transaction, the chief operating officer directly owned 1,089,260 shares of the company's stock, valued at approximately $5,664,152. This trade represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Cipher Mining Price Performance

Shares of Cipher Mining stock traded down $0.29 during trading on Tuesday, reaching $5.76. The company's stock had a trading volume of 25,929,867 shares, compared to its average volume of 25,170,864. The business's 50-day moving average price is $5.23 and its 200-day moving average price is $4.14. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.77. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jones Trading assumed coverage on shares of Cipher Mining in a research report on Monday, July 21st. They issued a "hold" rating for the company. HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. Macquarie upped their price objective on shares of Cipher Mining from $6.00 to $8.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Cantor Fitzgerald upped their price objective on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new position in shares of Cipher Mining in the fourth quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC increased its position in Cipher Mining by 258.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company's stock valued at $43,000 after purchasing an additional 6,516 shares during the period. Signal Advisors Wealth LLC acquired a new stake in Cipher Mining during the 2nd quarter valued at approximately $48,000. Custos Family Office LLC acquired a new stake in Cipher Mining during the 2nd quarter valued at approximately $48,000. Finally, Maripau Wealth Management LLC acquired a new stake in Cipher Mining during the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds own 12.26% of the company's stock.

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.

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