Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly Sells 53,161 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 53,161 shares of Cipher Mining stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $7.16, for a total transaction of $380,632.76. Following the transaction, the chief operating officer now directly owns 664,270 shares in the company, valued at approximately $4,756,173.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Patrick Arthur Kelly also recently made the following trade(s):

• On Tuesday, October 15th, Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54.

Cipher Mining Stock Down 1.1 %

Shares of NASDAQ:CIFR opened at $7.35 on Wednesday. Cipher Mining Inc. has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.56 billion, a PE ratio of -56.54 and a beta of 2.18. The company has a fifty day simple moving average of $4.30 and a 200 day simple moving average of $4.37.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.18). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The company had revenue of $24.10 million during the quarter, compared to the consensus estimate of $25.84 million. During the same period in the previous year, the firm posted ($0.07) EPS. On average, equities research analysts anticipate that Cipher Mining Inc. will post -0.18 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

Several institutional investors and hedge funds have recently bought and sold shares of CIFR. Millennium Management LLC increased its holdings in shares of Cipher Mining by 122.8% in the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after acquiring an additional 2,938,184 shares during the last quarter. Vanguard Group Inc. increased its stake in Cipher Mining by 62.0% during the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after purchasing an additional 2,164,383 shares during the last quarter. Van ECK Associates Corp increased its stake in Cipher Mining by 41.5% during the third quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after purchasing an additional 1,144,390 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of Cipher Mining by 94.9% during the first quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after purchasing an additional 1,090,811 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cipher Mining by 71.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock worth $9,118,000 after buying an additional 977,963 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. Stifel Canada upgraded Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Macquarie lifted their price objective on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and issued a $7.50 target price on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Northland Securities initiated coverage on shares of Cipher Mining in a report on Wednesday, September 25th. They set an “outperform” rating and a $6.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.54.

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.