Cipher Mining (NASDAQ:CIFR) COO Patrick Arthur Kelly Sells 35,568 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,568 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $17.76, for a total value of $631,687.68. Following the completion of the sale, the chief operating officer directly owned 1,512,644 shares of the company’s stock, valued at $26,864,557.44. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 15th, Patrick Arthur Kelly sold 35,569 shares of Cipher Mining stock. The stock was sold at an average price of $15.08, for a total value of $536,380.52.
• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The stock was sold at an average price of $14.20, for a total transaction of $377,436.00.
• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The stock was sold at an average price of $14.20, for a total transaction of $377,436.00.

Cipher Mining Stock Performance

Shares of CIFR opened at $17.92 on Wednesday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $25.52. The company has a 50-day simple moving average of $16.86 and a 200-day simple moving average of $13.25. The company has a market capitalization of $7.08 billion, a PE ratio of -99.56 and a beta of 2.94.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.07. Cipher Mining had a negative net margin of 34.16% and a negative return on equity of 9.57%. The company had revenue of $106.69 million for the quarter, compared to analyst estimates of $79.13 million. Equities research analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citizens Jmp assumed coverage on Cipher Mining in a report on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 target price on the stock. HC Wainwright raised their target price on shares of Cipher Mining to $30.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Citigroup started coverage on shares of Cipher Mining in a research report on Wednesday, November 19th. They set an “outperform” rating for the company. Wall Street Zen lowered shares of Cipher Mining from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Finally, Northland Securities set a $27.50 price objective on Cipher Mining in a research report on Tuesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cipher Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.73.

Hedge Funds Weigh In On Cipher Mining

Several institutional investors and hedge funds have recently bought and sold shares of CIFR. Formidable Asset Management LLC acquired a new position in shares of Cipher Mining in the 4th quarter valued at $659,000. Blue Trust Inc. purchased a new position in shares of Cipher Mining in the 4th quarter worth $82,000. Lodestone Wealth Management LLC purchased a new stake in Cipher Mining during the fourth quarter valued at about $77,000. Nisa Investment Advisors LLC increased its stake in Cipher Mining by 26.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock worth $104,000 after acquiring an additional 1,468 shares during the last quarter. Finally, Avaii Wealth Management LLC acquired a new stake in Cipher Mining during the fourth quarter worth about $256,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.