Cipher Mining (NASDAQ:CIFR) COO Patrick Arthur Kelly Sells 26,580 Shares

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 26,580 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $14.20, for a total transaction of $377,436.00. Following the completion of the sale, the chief operating officer owned 1,187,339 shares of the company’s stock, valued at $16,860,213.80. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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 shares were sold at an average price of $14.20, for a total transaction of $377,436.00.
• On Wednesday, October 15th, Patrick Arthur Kelly sold 26,581 shares of Cipher Mining stock. The stock was sold at an average price of $21.08, for a total transaction of $560,327.48.
• On Monday, September 15th, Patrick Arthur Kelly sold 44,870 shares of Cipher Mining stock. The shares were sold at an average price of $10.80, for a total value of $484,596.00.

Cipher Mining Stock Up 0.3%

CIFR stock traded up $0.04 during trading on Wednesday, reaching $14.62. 39,525,589 shares of the stock were exchanged, compared to its average volume of 29,432,152. The firm’s 50 day moving average is $16.42 and its 200 day moving average is $9.05. The firm has a market cap of $5.78 billion, a P/E ratio of -81.22 and a beta of 2.91. 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 Inc. has a twelve month low of $1.86 and a twelve month high of $25.52.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%.The firm had revenue of $106.69 million during the quarter, compared to analysts’ expectations of $79.13 million. As a group, research analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Cipher Mining

Institutional investors have recently added to or reduced their stakes in the company. Voloridge Investment Management LLC purchased a new position in shares of Cipher Mining in the 3rd quarter worth approximately $70,524,000. Millennium Management LLC bought a new stake in Cipher Mining during the first quarter worth $9,316,000. Alyeska Investment Group L.P. purchased a new position in Cipher Mining in the first quarter worth $7,094,000. Value Aligned Research Advisors LLC bought a new position in Cipher Mining in the 3rd quarter valued at $36,186,000. Finally, Vanguard Group Inc. grew its stake in Cipher Mining by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock valued at $287,236,000 after purchasing an additional 2,699,717 shares during the period. 12.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on CIFR shares. Northland Securities set a $27.50 price objective on shares of Cipher Mining in a report on Tuesday, November 4th. Citizens Jmp assumed coverage on shares of Cipher Mining in a report on Wednesday. They issued a “market outperform” rating and a $30.00 target price on the stock. Arete assumed coverage on Cipher Mining in a research note on Wednesday, September 24th. They set a “buy” rating and a $24.00 price target for the company. Rosenblatt Securities boosted their price objective on Cipher Mining to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen upgraded Cipher Mining from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.73.

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.