Insider Selling: Cipher Mining (NASDAQ:CIFR) COO Sells $536,380.52 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,569 shares of Cipher Mining stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $15.08, for a total transaction of $536,380.52. Following the transaction, the chief operating officer owned 1,151,770 shares of the company’s stock, valued at $17,368,691.60. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 value of $377,436.00.
• On Monday, November 17th, Patrick Arthur Kelly sold 26,580 shares of Cipher Mining stock. The shares were sold at an average price of $14.20, for a total value of $377,436.00.
• On Wednesday, October 15th, Patrick Arthur Kelly sold 26,581 shares of Cipher Mining stock. The shares were sold at an average price of $21.08, for a total value of $560,327.48.

Cipher Mining Trading Up 7.0%

NASDAQ CIFR opened at $16.21 on Friday. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $25.52. The stock has a market cap of $6.40 billion, a P/E ratio of -90.06 and a beta of 2.91. The stock’s fifty day moving average price is $18.32 and its 200-day moving average price is $11.22. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 1.31.

Cipher Mining (NASDAQ:CIFR) last posted 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 firm had revenue of $106.69 million during the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. As a group, equities analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

CIFR has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of Cipher Mining in a report on Wednesday, November 19th. They set an “outperform” rating on the stock. Northland Securities set a $27.50 target price on Cipher Mining in a research note on Tuesday, November 4th. BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of Cipher Mining in a report on Wednesday, November 5th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and upped their price target for the company from $12.00 to $18.00 in a report on Monday, November 24th. Finally, Compass Point assumed coverage on Cipher Mining in a research report on Monday, September 15th. They set a “buy” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.73.

Institutional Trading of Cipher Mining

Several large investors have recently modified their holdings of CIFR. Charles Schwab Investment Management Inc. lifted its holdings in Cipher Mining by 5.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,319,563 shares of the company’s stock valued at $7,635,000 after acquiring an additional 180,010 shares during the period. Deutsche Bank AG increased its position in shares of Cipher Mining by 3.9% during the 1st quarter. Deutsche Bank AG now owns 201,203 shares of the company’s stock valued at $463,000 after purchasing an additional 7,526 shares during the last quarter. Swiss National Bank lifted its stake in shares of Cipher Mining by 4.2% in the 1st quarter. Swiss National Bank now owns 471,700 shares of the company’s stock worth $1,085,000 after purchasing an additional 18,900 shares during the period. HighTower Advisors LLC lifted its stake in shares of Cipher Mining by 309.4% in the 1st quarter. HighTower Advisors LLC now owns 73,810 shares of the company’s stock worth $170,000 after purchasing an additional 55,782 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Cipher Mining by 5.8% in the first quarter. American Century Companies Inc. now owns 481,571 shares of the company’s stock worth $1,108,000 after buying an additional 26,530 shares during the last quarter. Institutional investors 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.