Patrick Arthur Kelly Sells 35,568 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) COO Patrick Arthur Kelly sold 35,568 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $14.98, for a total transaction of $532,808.64. Following the completion of the transaction, the chief operating officer directly owned 1,441,508 shares of the company’s stock, valued at approximately $21,593,789.84. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Patrick Arthur Kelly also recently made the following trade(s):

• On Thursday, January 15th, Patrick Arthur Kelly sold 35,568 shares of Cipher Mining stock. The stock was sold at an average price of $17.76, for a total transaction of $631,687.68.

Cipher Mining Trading Down 4.3%

Shares of CIFR stock opened at $14.01 on Friday. The company has a market capitalization of $5.68 billion, a PE ratio of -6.49 and a beta of 2.96. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $25.52. The business’s fifty day moving average is $16.04 and its 200 day moving average is $16.05. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79.

Institutional Trading of Cipher Mining

Large investors have recently modified their holdings of the business. Sherman Asset Management Inc. purchased a new position in Cipher Mining during the 3rd quarter valued at about $25,000. Los Angeles Capital Management LLC purchased a new stake in Cipher Mining in the 4th quarter worth approximately $25,000. Arax Advisory Partners lifted its holdings in 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 buying an additional 1,338 shares during the period. GAMMA Investing LLC grew its position 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 buying an additional 1,286 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Cipher Mining during the fourth quarter valued at approximately $28,000. 12.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CIFR shares. Needham & Company LLC lowered their price target on Cipher Mining to $22.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. raised Cipher Mining from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $12.00 to $18.00 in a report on Monday, November 24th. Zacks Research downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods dropped their target price on shares of Cipher Mining from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research note on Monday, December 29th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.68.

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.