Cipher Mining (NASDAQ:CIFR) COO Sells $233,329.20 in 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 the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $5.20, for a total value of $233,329.20. Following the completion of the transaction, the chief operating officer directly owned 1,089,260 shares in the company, valued at approximately $5,664,152. The trade was a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR traded up $0.48 during mid-day trading on Friday, hitting $6.38. The stock had a trading volume of 23,064,209 shares, compared to its average volume of 21,453,356. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18. The company has a 50 day moving average of $5.36 and a two-hundred day moving average of $4.14. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $7.77. The firm has a market cap of $2.51 billion, a PE ratio of -14.84 and a beta of 2.73.

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

Analyst Ratings Changes

A number of research firms have recently commented on CIFR. Macquarie boosted their target price 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. HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Canaccord Genuity Group boosted their target price on shares of Cipher Mining from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Cantor Fitzgerald boosted their target price 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, Jones Trading started coverage on shares of Cipher Mining in a research report on Monday, July 21st. They set a "hold" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $7.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new position in Cipher Mining in the fourth quarter valued at approximately $29,000. Stoneridge Investment Partners LLC purchased a new position in Cipher Mining in the first quarter valued at approximately $29,000. FNY Investment Advisers LLC increased its stake in Cipher Mining by 42.9% in the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock valued at $36,000 after purchasing an additional 4,800 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in Cipher Mining in the first quarter valued at approximately $37,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Cipher Mining by 258.1% in the second 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 last quarter. Hedge funds and other institutional investors 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.