Cipher Mining (NASDAQ:CIFR) Director Holly Morrow Evans Sells 15,000 Shares

Cipher Mining Inc. (NASDAQ:CIFR) Director Holly Morrow Evans sold 15,000 shares of Cipher Mining stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $18.74, for a total value of $281,100.00. Following the completion of the transaction, the director directly owned 195,512 shares of the company’s stock, valued at $3,663,894.88. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Holly Morrow Evans also recently made the following trade(s):

• On Wednesday, November 12th, Holly Morrow Evans sold 16,269 shares of Cipher Mining stock. The shares were sold at an average price of $17.39, for a total transaction of $282,917.91.

Cipher Mining Price Performance

NASDAQ:CIFR traded up $1.19 during trading hours on Friday, hitting $20.34. The company’s stock had a trading volume of 34,179,438 shares, compared to its average volume of 30,040,479. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $25.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a fifty day simple moving average of $17.35 and a 200-day simple moving average of $9.74. The company has a market capitalization of $8.03 billion, a P/E ratio of -112.97 and a beta of 2.91.

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

Institutional Investors Weigh In On Cipher Mining

Hedge funds have recently modified their holdings of the stock. Sherman Asset Management Inc. purchased a new stake in Cipher Mining in the 3rd quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Cipher Mining by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,138 shares of the company’s stock valued at $795,000 after purchasing an additional 2,133 shares during the last quarter. Hollencrest Capital Management bought a new position in Cipher Mining during the third quarter worth about $31,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Cipher Mining by 10.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,247 shares of the company’s stock worth $368,000 after purchasing an additional 2,659 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Cipher Mining by 7.9% in the second quarter. Teacher Retirement System of Texas now owns 38,281 shares of the company’s stock worth $183,000 after purchasing an additional 2,812 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Compass Point started coverage on Cipher Mining in a research note on Monday, September 15th. They issued a “buy” rating on the stock. Citizens Jmp began coverage on Cipher Mining in a research note on Wednesday, November 19th. They issued an “outperform” rating and a $30.00 price target on the stock. Macquarie raised their price objective on shares of Cipher Mining from $16.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. BTIG Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Cipher Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.68.

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.