Cipher Mining (NASDAQ:CIFR) Major Shareholder Holding Ltd V3 Sells 1,800,000 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,800,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total value of $47,916,000.00. Following the completion of the transaction, the insider directly owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Cipher Mining Stock Performance

Shares of CIFR stock opened at $25.55 on Friday. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. Cipher Mining Inc. has a fifty-two week low of $3.29 and a fifty-two week high of $28.62. The stock’s 50-day moving average is $18.96 and its two-hundred day moving average is $17.25. The firm has a market cap of $10.45 billion, a P/E ratio of -10.97 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The firm had revenue of $34.84 million during the quarter, compared to analyst estimates of $36.12 million. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. Analysts predict that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of Cipher Mining

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Cipher Mining by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock valued at $287,236,000 after purchasing an additional 2,699,717 shares during the period. American Century Companies Inc. boosted its stake in Cipher Mining by 138.2% during the 3rd quarter. American Century Companies Inc. now owns 1,406,864 shares of the company’s stock valued at $17,712,000 after purchasing an additional 816,198 shares during the period. HighTower Advisors LLC boosted its stake in Cipher Mining by 16.6% during the 4th quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock valued at $9,915,000 after purchasing an additional 95,686 shares during the period. Foundations Investment Advisors LLC bought a new stake in Cipher Mining during the 4th quarter valued at approximately $667,000. Finally, Private Advisor Group LLC boosted its stake in Cipher Mining by 15.7% during the 3rd quarter. Private Advisor Group LLC now owns 1,789,462 shares of the company’s stock valued at $22,529,000 after purchasing an additional 242,894 shares during the period. Institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CIFR shares. HC Wainwright upped their target price on Cipher Mining from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC upped their target price on Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods upped their price target on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Morgan Stanley decreased their price target on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research note on Thursday. Finally, Rosenblatt Securities upped their price target on Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cipher Mining has a consensus rating of “Moderate Buy” and an average target price of $27.69.

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.