Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells $11,133,000.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 900,000 shares of Cipher Mining stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $12.37, for a total value of $11,133,000.00. Following the completion of the sale, the insider owned 77,642,259 shares in the company, valued at approximately $960,434,743.83. This trade represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 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 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 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 value 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 value of $9,720,000.00.
• On Friday, September 12th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were 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 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 stock was 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 stock was 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 value of $2,075,610.24.

Cipher Mining Stock Performance

CIFR opened at $14.14 on Thursday. The stock has a market cap of $5.56 billion, a P/E ratio of -32.88 and a beta of 2.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. The stock’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $4.89. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $15.54.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Cipher Mining by 258.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after purchasing an additional 6,516 shares during the period. Signal Advisors Wealth LLC purchased a new position in shares of Cipher Mining during the 2nd quarter worth $48,000. Custos Family Office LLC purchased a new position in shares of Cipher Mining during the 2nd quarter worth $48,000. Maripau Wealth Management LLC purchased a new position in shares of Cipher Mining during the 2nd quarter worth $48,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Cipher Mining during the 4th quarter worth $49,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Compass Point initiated coverage on Cipher Mining in a report on Monday, September 15th. They issued a “buy” rating on the stock. Arete initiated coverage on Cipher Mining in a report on Wednesday. They set a “buy” rating and a $24.00 target price on the stock. Arete Research initiated coverage on Cipher Mining in a report on Wednesday. They set a “buy” rating and a $24.00 target price on the stock. Cantor Fitzgerald increased their target price on Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. Finally, Canaccord Genuity Group increased their target price on Cipher Mining from $9.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.