Cipher Mining (NASDAQ:CIFR) COO Sells $532,808.64 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $14.98, for a total transaction of $532,808.64. Following the transaction, the chief operating officer directly owned 1,441,508 shares in the company, valued at approximately $21,593,789.84. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, January 15th, Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock. The stock was sold at an average price of $17.76, for a total transaction of $631,687.68.

Cipher Mining Stock Down 4.3%

Cipher Mining stock opened at $14.01 on Friday. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 3.37. The firm has a market cap of $5.68 billion, a P/E ratio of -6.49 and a beta of 2.96. The business has a fifty day moving average of $16.04 and a two-hundred day moving average of $16.11. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $24.00 price objective on shares of Cipher Mining in a research note on Thursday. HC Wainwright reduced their target price on shares of Cipher Mining to $25.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Wells Fargo & Company set a $18.00 price target on shares of Cipher Mining in a research report on Monday, November 24th. Zacks Research cut shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Finally, Needham & Company LLC reduced their price objective on shares of Cipher Mining to $22.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Cipher Mining by 43.2% in the fourth quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after buying an additional 9,865,533 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Cipher Mining in the third quarter worth about $70,524,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Cipher Mining during the third quarter worth about $64,266,000. Situational Awareness LP increased its holdings in shares of Cipher Mining by 82.4% during the fourth quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after acquiring an additional 4,728,600 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Cipher Mining by 3,718.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock valued at $63,359,000 after acquiring an additional 4,180,362 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Company Profile

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.