Cipher Mining (NASDAQ:CIFR) Shares Down 4.8% – What’s Next?

Cipher Mining Inc. (NASDAQ:CIFR) shares fell 4.8% during trading on Thursday . The stock traded as low as $17.58 and last traded at $17.2530. 3,163,987 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 22,779,596 shares. The stock had previously closed at $18.13.

Analyst Upgrades and Downgrades

CIFR has been the subject of a number of analyst reports. Needham & Company LLC raised their price target on Cipher Mining from $15.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen cut Cipher Mining from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cipher Mining in a report on Monday, December 29th. Citizens Jmp started coverage on shares of Cipher Mining in a research note on Wednesday, November 19th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, Rosenblatt Securities upped their price target on shares of Cipher Mining to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.73.

Cipher Mining Price Performance

The company has a market capitalization of $7.43 billion, a PE ratio of -104.44 and a beta of 2.94. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average is $16.89 and its 200-day moving average is $12.97.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.07. The firm had revenue of $106.69 million during the quarter, compared to analyst estimates of $79.13 million. Cipher Mining had a negative return on equity of 9.57% and a negative net margin of 34.16%. Equities analysts predict that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In other Cipher Mining news, COO Patrick Arthur Kelly sold 35,569 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $15.08, for a total transaction of $536,380.52. Following the completion of the sale, the chief operating officer directly owned 1,151,770 shares in the company, valued at $17,368,691.60. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William Iwaschuk sold 173,094 shares of Cipher Mining stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $22.52, for a total value of $3,898,076.88. Following the completion of the transaction, the insider owned 1,054,488 shares in the company, valued at approximately $23,747,069.76. This represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 408,549 shares of company stock valued at $7,708,644. Insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Cipher Mining by 218.3% in the fourth 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. Nisa Investment Advisors LLC boosted its stake in shares of Cipher Mining by 26.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the company’s stock valued at $104,000 after purchasing an additional 1,468 shares in the last quarter. DKM Wealth Management Inc. increased its position in shares of Cipher Mining by 15.1% during the fourth quarter. DKM Wealth Management Inc. now owns 14,361 shares of the company’s stock valued at $212,000 after buying an additional 1,886 shares during the period. Sherman Asset Management Inc. purchased a new position in shares of Cipher Mining during the third quarter valued at about $25,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Cipher Mining by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,138 shares of the company’s stock worth $795,000 after buying an additional 2,133 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Company Profile

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.