Insider Selling: Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells $30,588,000.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $25.49, for a total value of $30,588,000.00. Following the completion of the sale, the insider directly owned 58,316,694 shares in the company, valued at approximately $1,486,492,530.06. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 3rd, Holding Ltd V3 sold 1,800,000 shares of Cipher Mining stock. The stock was sold at an average price of $26.62, for a total value of $47,916,000.00.

Cipher Mining Stock Down 8.7%

Shares of Cipher Mining stock opened at $21.02 on Thursday. The business’s fifty day moving average price is $19.66 and its two-hundred day moving average price is $17.48. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market capitalization of $8.60 billion, a P/E ratio of -9.02 and a beta of 3.18. Cipher Mining Inc. has a 1-year low of $3.29 and a 1-year high of $28.62.

Cipher Mining (NASDAQ:CIFR) last announced 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). The business had revenue of $34.84 million for the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative net margin of 427.79% and a negative return on equity of 117.65%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. As a group, research analysts forecast that Cipher Mining Inc. will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CIFR shares. Wall Street Zen downgraded Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Jefferies Financial Group initiated coverage on Cipher Mining in a report on Thursday, May 14th. They issued a “buy” rating and a $32.00 target price on the stock. Rosenblatt Securities lifted their price target on Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Finally, Cantor Fitzgerald lowered their price target on Cipher Mining from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.69.

Institutional Trading of Cipher Mining

A number of institutional investors have recently bought and sold shares of CIFR. Millennium Management LLC acquired a new stake in Cipher Mining during the first quarter valued at $9,316,000. Goldman Sachs Group Inc. boosted its position in Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after purchasing an additional 1,610,073 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Cipher Mining during the second quarter valued at $98,000. Prudential Financial Inc. boosted its position in Cipher Mining by 113.7% during the second quarter. Prudential Financial Inc. now owns 31,595 shares of the company’s stock valued at $151,000 after purchasing an additional 16,810 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in Cipher Mining by 65.2% during the second quarter. XTX Topco Ltd now owns 29,708 shares of the company’s stock valued at $142,000 after purchasing an additional 11,725 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

About Cipher Mining

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.