William Iwaschuk Sells 150,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) insider William Iwaschuk sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total value of $591,000.00. Following the transaction, the insider now directly owns 619,148 shares in the company, valued at approximately $2,439,443.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cipher Mining Price Performance

Cipher Mining stock opened at $4.11 on Friday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 68.50 and a beta of 2.24. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $7.99. The stock’s 50 day moving average is $3.97 and its 200-day moving average is $4.20.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. The firm had revenue of $36.81 million for the quarter, compared to analyst estimates of $39.17 million. During the same period in the prior year, the firm posted ($0.05) EPS. Equities research analysts expect that Cipher Mining Inc. will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CIFR shares. Compass Point boosted their target price on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Needham & Company LLC boosted their price objective on shares of Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a research note on Thursday, August 29th. HC Wainwright boosted their price target on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Northland Securities assumed coverage on Cipher Mining in a research report on Wednesday. They issued an “outperform” rating and a $6.00 price objective for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $7.21.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds have recently bought and sold shares of CIFR. Amalgamated Bank grew its position in shares of Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares in the last quarter. Xponance Inc. acquired a new stake in Cipher Mining during the second quarter worth approximately $45,000. Janney Montgomery Scott LLC bought a new position in Cipher Mining during the 1st quarter worth $52,000. Price T Rowe Associates Inc. MD acquired a new position in Cipher Mining in the 1st quarter valued at $59,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Cipher Mining by 50.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after acquiring an additional 5,000 shares during the period. 12.26% of the stock is owned by institutional investors.

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.