Holding Ltd V3 Sells 1,832,316 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,832,316 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $20.78, for a total transaction of $38,075,526.48. Following the transaction, the insider directly owned 64,020,221 shares in the company, valued at approximately $1,330,340,192.38. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Holding Ltd V3 also recently made the following trade(s):

• On Thursday, October 16th, Holding Ltd V3 sold 535,843 shares of Cipher Mining stock. The shares were sold at an average price of $20.32, for a total transaction of $10,888,329.76.
• On Wednesday, October 15th, Holding Ltd V3 sold 2,167,684 shares of Cipher Mining stock. The stock was sold at an average price of $21.06, for a total value of $45,651,425.04.
• On Friday, September 26th, Holding Ltd V3 sold 1,585,182 shares of Cipher Mining stock. The stock was sold at an average price of $11.61, for a total value of $18,403,963.02.
• On Monday, September 29th, Holding Ltd V3 sold 2,000,000 shares of Cipher Mining stock. The shares were sold at an average price of $12.08, for a total value of $24,160,000.00.
• On Thursday, September 25th, Holding Ltd V3 sold 3,504,540 shares of Cipher Mining stock. The shares were sold at an average price of $12.36, for a total value of $43,316,114.40.
• On Wednesday, September 24th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $14.41, for a total value of $12,969,000.00.
• On Monday, September 22nd, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $12.85, for a total value of $11,565,000.00.
• On Friday, September 19th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $12.37, for a total value of $11,133,000.00.
• On Wednesday, September 17th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $11.77, for a total transaction of $10,593,000.00.
• On Monday, September 15th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $10.80, for a total transaction of $9,720,000.00.

Cipher Mining Price Performance

CIFR opened at $18.76 on Friday. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $22.00. The company has a 50 day moving average of $11.03 and a two-hundred day moving average of $6.44. The company has a market cap of $7.38 billion, a P/E ratio of -43.63 and a beta of 2.87. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.23.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The business had revenue of $43.57 million for the quarter, compared to the consensus estimate of $51.89 million. On average, analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CIFR has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Cipher Mining from $6.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. BTIG Research increased their price objective on shares of Cipher Mining from $9.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday. Compass Point began coverage on shares of Cipher Mining in a research report on Monday, September 15th. They set a “buy” rating on the stock. HC Wainwright raised their price target on shares of Cipher Mining from $7.50 to $17.00 and gave the company a “buy” rating in a report on Monday, September 29th. Finally, Rosenblatt Securities lifted their price target on shares of Cipher Mining from $14.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average price target of $17.68.

Hedge Funds Weigh In On Cipher Mining

Several institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its position in shares of Cipher Mining by 258.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after buying an additional 6,516 shares in the last quarter. Signal Advisors Wealth LLC bought a new position in Cipher Mining during the 2nd quarter valued at $48,000. Custos Family Office LLC acquired a new position in Cipher Mining during the 2nd quarter worth $48,000. Maripau Wealth Management LLC bought a new stake in shares of Cipher Mining in the 2nd quarter worth about $48,000. Finally, Scott Capital Advisors LLC acquired a new stake in shares of Cipher Mining in the 3rd quarter valued at about $126,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Company Profile

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.