Holding Ltd V3 Sells 900,000 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 900,000 shares of Cipher Mining stock in a transaction on Friday, September 12th. The stock was sold at an average price of $10.60, for a total transaction of $9,540,000.00. Following the sale, the insider owned 82,142,259 shares in the company, valued at $870,707,945.40. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% 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 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 transaction of $8,982,000.00.
• On Monday, September 8th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The shares were sold at an average price of $7.48, for a total value of $4,488,000.00.
• On Friday, September 5th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.38, for a total value of $4,428,000.00.
• On Thursday, September 4th, Holding Ltd V3 sold 700,000 shares of Cipher Mining stock. The shares were sold at an average price of $7.60, for a total value of $5,320,000.00.
• On Tuesday, September 2nd, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The shares were sold at an average price of $8.13, for a total value of $4,878,000.00.
• On Wednesday, July 30th, Holding Ltd V3 sold 369,984 shares of Cipher Mining stock. The stock was sold at an average price of $5.61, for a total transaction of $2,075,610.24.
• On Tuesday, July 29th, Holding Ltd V3 sold 66,049 shares of Cipher Mining stock. The shares were sold at an average price of $6.06, for a total transaction of $400,256.94.
• On Monday, July 28th, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The shares were sold at an average price of $6.19, for a total transaction of $3,095,000.00.
• On Friday, July 25th, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.45, for a total transaction of $3,225,000.00.
• On Wednesday, July 23rd, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.55, for a total transaction of $3,275,000.00.

Cipher Mining Trading Up 8.8%

NASDAQ CIFR opened at $10.85 on Friday. The firm’s fifty day moving average is $6.49 and its two-hundred day moving average is $4.41. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $10.93. 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 firm has a market cap of $4.27 billion, a PE ratio of -25.23 and a beta of 2.76.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Canaccord Genuity Group lifted their target price on Cipher Mining from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, August 19th. Cantor Fitzgerald lifted their price objective on shares of Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a research report on Thursday, June 5th. Jones Trading began coverage on shares of Cipher Mining in a research note on Monday, July 21st. They issued a “hold” rating on the stock. Finally, Macquarie upped their price objective on shares of Cipher Mining from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.67.

Hedge Funds Weigh In On Cipher Mining

A number of large investors have recently made changes to their positions in the stock. Marex Group plc purchased a new position in shares of Cipher Mining in the 2nd quarter valued at about $333,000. Nomura Holdings Inc. purchased a new position in shares of Cipher Mining in the 2nd quarter valued at about $397,000. Tower Research Capital LLC TRC increased its holdings in shares of Cipher Mining by 41.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 31,770 shares of the company’s stock valued at $152,000 after purchasing an additional 9,295 shares in the last quarter. Northern Right Capital Management L.P. purchased a new position in shares of Cipher Mining in the 2nd quarter valued at about $846,000. Finally, Tidal Investments LLC increased its holdings in shares of Cipher Mining by 28.3% in the 2nd quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock valued at $33,386,000 after purchasing an additional 1,541,138 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

About Cipher Mining

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.