Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells $24,160,000.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 2,000,000 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $12.08, for a total value of $24,160,000.00. Following the completion of the sale, the insider owned 67,852,537 shares in the company, valued at $819,658,646.96. This trade represents a 2.86% 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 hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 26th, Holding Ltd V3 sold 1,585,182 shares of Cipher Mining stock. The shares were sold at an average price of $11.61, for a total transaction of $18,403,963.02.
• On Thursday, September 25th, Holding Ltd V3 sold 3,504,540 shares of Cipher Mining stock. The stock was sold at an average price of $12.36, for a total transaction of $43,316,114.40.
• On Wednesday, September 24th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $14.41, for a total transaction 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 transaction 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 transaction 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 stock was sold at an average price of $10.80, for a total value of $9,720,000.00.
• On Friday, September 12th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $10.60, for a total value of $9,540,000.00.
• On Wednesday, September 10th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were sold at an average price of $9.98, for a total value of $8,982,000.00.
• On Monday, September 8th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.48, for a total value of $4,488,000.00.

Cipher Mining Price Performance

Shares of CIFR stock opened at $13.81 on Friday. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $15.54. The stock has a market capitalization of $5.43 billion, a PE ratio of -32.12 and a beta of 2.87. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18. The stock’s fifty day moving average is $8.25 and its 200-day moving average is $5.28.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate 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. Equities research analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Cipher Mining from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday. Arete Research initiated coverage on Cipher Mining in a report on Wednesday, September 24th. They set a “buy” rating and a $24.00 price objective on the stock. Cantor Fitzgerald lifted their target price on Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Thursday, June 5th. Needham & Company LLC boosted their target price on Cipher Mining from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on Cipher Mining from $6.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.23.

Hedge Funds Weigh In On Cipher Mining

Several institutional investors and hedge funds have recently modified their holdings of the business. Helix Partners Management LP increased its position in shares of Cipher Mining by 95.8% during the first quarter. Helix Partners Management LP now owns 4,400,000 shares of the company’s stock worth $10,120,000 after acquiring an additional 2,153,058 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in Cipher Mining during the 1st quarter worth about $109,000. SRN Advisors LLC raised its stake in shares of Cipher Mining by 42.1% in the 1st quarter. SRN Advisors LLC now owns 284,148 shares of the company’s stock valued at $654,000 after purchasing an additional 84,148 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cipher Mining by 5.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,319,563 shares of the company’s stock valued at $7,635,000 after purchasing an additional 180,010 shares in the last quarter. Finally, Maridea Wealth Management LLC boosted its position in Cipher Mining by 169.5% during the 1st quarter. Maridea Wealth Management LLC now owns 551,522 shares of the company’s stock worth $1,269,000 after acquiring an additional 346,911 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.