Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly Sells 53,161 Shares

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 53,161 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $7.16, for a total value of $380,632.76. Following the completion of the transaction, the chief operating officer now directly owns 664,270 shares of the company’s stock, valued at $4,756,173.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, October 15th, Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54.

Cipher Mining Stock Down 9.9 %

Shares of Cipher Mining stock opened at $6.62 on Thursday. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $7.99. The company has a market cap of $2.30 billion, a P/E ratio of -51.38 and a beta of 2.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The firm has a fifty day moving average of $4.39 and a two-hundred day moving average of $4.39.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). The business had revenue of $24.10 million during the quarter, compared to analysts’ expectations of $25.84 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. During the same period in the prior year, the firm posted ($0.07) EPS. On average, analysts forecast that Cipher Mining Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CIFR shares. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a research note on Friday, November 1st. Stifel Canada upgraded shares of Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Cipher Mining in a report on Thursday, October 3rd. Finally, Compass Point increased their price target on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and an average target price of $7.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CIFR. Janney Montgomery Scott LLC purchased a new stake in shares of Cipher Mining during the 1st quarter worth $52,000. SG Americas Securities LLC acquired a new stake in shares of Cipher Mining in the first quarter valued at about $74,000. Swiss National Bank boosted its holdings in Cipher Mining by 27.0% during the first quarter. Swiss National Bank now owns 125,600 shares of the company’s stock worth $647,000 after buying an additional 26,700 shares in the last quarter. Vanguard Group Inc. grew its position in Cipher Mining by 62.0% during the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after buying an additional 2,164,383 shares during the period. Finally, Vident Advisory LLC lifted its position in shares of Cipher Mining by 94.9% during the 1st quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock valued at $11,537,000 after acquiring an additional 1,090,811 shares during the period. Institutional investors and hedge funds 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.