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 business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $7.16, for a total transaction of $380,632.76. Following the completion of the sale, the chief operating officer now directly owns 664,270 shares of the company’s stock, valued at approximately $4,756,173.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 Price Performance

NASDAQ:CIFR traded down $0.08 during mid-day trading on Tuesday, hitting $7.35. 11,043,531 shares of the company’s stock traded hands, compared to its average volume of 9,364,397. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99. The firm’s 50 day simple moving average is $4.30 and its 200 day simple moving average is $4.37. The company has a market cap of $2.56 billion, a PE ratio of -57.15 and a beta of 2.18.

Cipher Mining (NASDAQ:CIFR) last announced its earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The firm had revenue of $24.10 million for the quarter, compared to analyst estimates 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 last year, the firm earned ($0.07) earnings per share. Sell-side analysts expect that Cipher Mining Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research note on Thursday, October 3rd. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research note on Friday, November 1st. Compass Point raised their price objective on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Macquarie lifted their price objective on Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Stifel Canada raised Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.54.

Institutional Investors Weigh In On Cipher Mining

A number of large investors have recently bought and sold shares of CIFR. Amalgamated Bank boosted its position in Cipher Mining by 321.8% during the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares during the period. Farther Finance Advisors LLC bought a new position in shares of Cipher Mining during the 3rd quarter worth approximately $33,000. Janney Montgomery Scott LLC purchased a new stake in Cipher Mining during the first quarter worth $52,000. Xponance Inc. acquired a new position in shares of Cipher Mining during the 2nd quarter valued at about $45,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Cipher Mining in the first quarter worth $59,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.