Cary Grossman Sells 20,000 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) Director Cary Grossman sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $21.82, for a total transaction of $436,400.00. Following the transaction, the director directly owned 150,530 shares of the company’s stock, valued at $3,284,564.60. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $20.55 on Friday. The firm’s 50 day moving average is $15.99 and its two-hundred day moving average is $16.83. The firm has a market capitalization of $8.41 billion, a P/E ratio of -8.82 and a beta of 3.13. The company has a current ratio of 3.13, a quick ratio of 3.79 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 52 week low of $2.95 and a 52 week high of $25.52.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The business had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.Cipher Mining’s revenue for the quarter was down 28.8% on a year-over-year basis. Analysts anticipate that Cipher Mining Inc. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently bought and sold shares of CIFR. Los Angeles Capital Management LLC acquired a new stake in Cipher Mining in the 4th quarter valued at about $25,000. Arax Advisory Partners grew its stake in shares of Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after purchasing an additional 1,338 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after purchasing an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining in the 4th quarter worth approximately $28,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of Cipher Mining in the 3rd quarter worth approximately $25,000. 12.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Cipher Mining in a research report on Wednesday, March 25th. BTIG Research restated a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research report on Wednesday. Rosenblatt Securities upped their price target on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald decreased their price objective on shares of Cipher Mining from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, HC Wainwright raised their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cipher Mining has a consensus rating of “Moderate Buy” and a consensus price target of $26.29.

Cipher Mining News Roundup

Here are the key news stories impacting Cipher Mining this week:

• Positive Sentiment: Rosenblatt Securities raised its price target on Cipher Mining to $30 from $24 and reiterated a buy rating, signaling confidence in further upside. Rosenblatt Securities Raises Price Target on Cipher Mining
• Positive Sentiment: Keefe, Bruyette & Woods lifted its target to $27 from $23 and kept an outperform rating, which reinforced the bullish analyst trend. Cipher Mining Price Target Raised by Keefe, Bruyette & Woods
• Positive Sentiment: HC Wainwright also reportedly increased its price target to $30, adding another vote of confidence in Cipher Mining’s outlook. Cipher Mining Given New Price Target at HC Wainwright
• Positive Sentiment: News coverage highlighted Cipher Mining’s momentum tied to large AI campus leases and a $2.2 billion financing, which supports the company’s growth story and could attract momentum investors. Cipher Digital Is Up After Massive AI Campus Leases And Financing
• Neutral Sentiment: Cipher Mining said it will participate in several upcoming investor and industry conferences, which may help keep the company visible but does not change fundamentals by itself. Cipher Digital Announces Participation in Upcoming Investor and Industry Conferences
• Negative Sentiment: Director Cary M. Grossman sold 20,000 shares, trimming his stake by 11.73%, which can be viewed as a mild confidence signal against the stock. Cary M. Grossman Insider Sale SEC Filing
• Negative Sentiment: Director Wesley Hastie Williams sold 28,169 shares, reducing his position by 17.81%, adding a second insider-sale headline that may temper enthusiasm. Wesley Hastie Williams Insider Sale SEC Filing

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.