Insider Selling: Cipher Mining Inc. (NASDAQ:CIFR) Insider Sells 150,000 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) insider William Iwaschuk sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now directly owns 619,148 shares of the company’s stock, valued at approximately $2,439,443.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $4.11 on Friday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 68.50 and a beta of 2.24. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $3.97 and its 200-day moving average price is $4.20. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $7.99.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The business had revenue of $36.81 million for the quarter, compared to the consensus estimate of $39.17 million. During the same period last year, the company earned ($0.05) EPS. Equities research analysts forecast that Cipher Mining Inc. will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research note on Thursday, August 29th. Northland Securities began coverage on Cipher Mining in a research report on Wednesday. They set an “outperform” rating and a $6.00 price objective for the company. Macquarie initiated coverage on Cipher Mining in a research report on Tuesday. They issued an “outperform” rating and a $6.00 target price on the stock. Northland Capmk raised Cipher Mining to a “strong-buy” rating in a research note on Wednesday. Finally, Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.21.

Institutional Trading of Cipher Mining

Several institutional investors have recently modified their holdings of CIFR. Hel Ved Capital Management Ltd acquired a new position in Cipher Mining during the 4th quarter worth about $1,310,000. First Financial Bankshares Inc bought a new position in shares of Cipher Mining during the fourth quarter worth about $9,901,000. Shariaportfolio Inc. acquired a new position in shares of Cipher Mining in the fourth quarter worth approximately $2,460,000. Cantor Fitzgerald L. P. acquired a new position in shares of Cipher Mining in the fourth quarter worth approximately $747,000. Finally, Virtu Financial LLC bought a new stake in Cipher Mining in the fourth quarter valued at approximately $202,000. 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.