Wesley Hastie Williams Sells 28,169 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Key Points

• Director Wesley Hastie Williams sold 28,169 shares of Cipher Mining on May 6 at an average price of $22.26, reducing his stake by 17.81% and generating about $627,042.
• Cipher Mining’s latest quarterly results missed estimates, posting a loss of $0.28 per share versus expectations for a $0.27 loss, while revenue of $34.84 million came in below forecasts and fell 28.8% year over year.
• Analysts remain broadly bullish despite the earnings miss, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target price of $26.29.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) Director Wesley Hastie Williams sold 28,169 shares of the firm's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $22.26, for a total transaction of $627,041.94. Following the completion of the transaction, the director directly owned 129,976 shares in the company, valued at $2,893,265.76. This trade represents a 17.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Cipher Mining Stock Down 0.6%

Shares of NASDAQ:CIFR traded down $0.13 during midday trading on Friday, hitting $20.55. 24,412,106 shares of the company's stock were exchanged, compared to its average volume of 28,235,041. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.79. The stock has a 50 day moving average price of $15.99 and a 200-day moving average price of $16.83. The company has a market cap of $8.41 billion, a PE ratio of -8.82 and a beta of 3.13. Cipher Mining Inc. has a 12 month low of $2.95 and a 12 month high of $25.52.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CIFR. Keefe, Bruyette & Woods boosted their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday. Morgan Stanley reissued an "overweight" rating and set a $40.50 target price on shares of Cipher Mining in a research report on Monday, April 27th. Zacks Research upgraded Cipher Mining from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 25th. HC Wainwright upped their target price on Cipher Mining from $25.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $22.00 price target on shares of Cipher Mining in a report on Wednesday, March 25th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.29.

Key Stories Impacting Cipher Mining

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

• Positive Sentiment: Rosenblatt Securities raised its price target on Cipher Mining to $30 from $24 and reiterated a buy rating, signaling confidence in further upside. Rosenblatt Securities Raises Price Target on Cipher Mining
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $27 from $23 and kept an outperform rating, which reinforced the bullish analyst trend. Cipher Mining Price Target Raised by Keefe, Bruyette & Woods
• Positive Sentiment: HC Wainwright also reportedly increased its price target to $30, adding another vote of confidence in Cipher Mining’s outlook. Cipher Mining Given New Price Target at HC Wainwright
• Positive Sentiment: News coverage highlighted Cipher Mining’s momentum tied to large AI campus leases and a $2.2 billion financing, which supports the company’s growth story and could attract momentum investors. Cipher Digital Is Up After Massive AI Campus Leases And Financing
• Neutral Sentiment: Cipher Mining said it will participate in several upcoming investor and industry conferences, which may help keep the company visible but does not change fundamentals by itself. Cipher Digital Announces Participation in Upcoming Investor and Industry Conferences
• Negative Sentiment: Director Cary M. Grossman sold 20,000 shares, trimming his stake by 11.73%, which can be viewed as a mild confidence signal against the stock. Cary M. Grossman Insider Sale SEC Filing
• Negative Sentiment: Director Wesley Hastie Williams sold 28,169 shares, reducing his position by 17.81%, adding a second insider-sale headline that may temper enthusiasm. Wesley Hastie Williams Insider Sale SEC Filing

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new stake in shares of Cipher Mining in the 4th quarter worth approximately $25,000. Arax Advisory Partners lifted its stake in Cipher Mining by 274.2% in the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock valued at $27,000 after purchasing an additional 1,338 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 1,286 shares during the period. Meeder Asset Management Inc. purchased a new stake in Cipher Mining in the fourth quarter worth $28,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of Cipher Mining in the third quarter valued at $25,000. 12.26% of the stock is owned by institutional investors.

About Cipher Mining

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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