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 firm’s stock in a transaction that occurred 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 transaction, the insider owned 67,852,537 shares of the company’s stock, valued at approximately $819,658,646.96. The trade was a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $14.41, for a total value of $12,969,000.00.
• On Monday, September 22nd, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $12.85, for a total value 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 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 transaction 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 transaction of $4,488,000.00.

Cipher Mining Stock Performance

Shares of CIFR opened at $12.59 on Wednesday. The business has a fifty day moving average of $7.99 and a 200 day moving average of $5.16. The firm has a market capitalization of $4.95 billion, a P/E ratio of -29.28 and a beta of 2.76. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $15.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share 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 firm had revenue of $43.57 million for the quarter, compared to analysts’ expectations of $51.89 million. As a group, sell-side analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on CIFR shares. Jones Trading initiated coverage on Cipher Mining in a research report on Monday, July 21st. They issued a “hold” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Cipher Mining from $6.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, September 26th. Compass Point assumed coverage on Cipher Mining in a report on Monday, September 15th. They set a “buy” rating on the stock. Needham & Company LLC increased their price target on shares of Cipher Mining from $10.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Arete began coverage on Cipher Mining in a research report on Wednesday, September 24th. They set a “buy” rating and a $24.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Cipher Mining presently has an average rating of “Moderate Buy” and an average target price of $15.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marex Group plc bought a new position in shares of Cipher Mining during the second quarter valued at approximately $333,000. Nomura Holdings Inc. acquired a new position in shares of Cipher Mining in the 2nd quarter valued at $397,000. Tower Research Capital LLC TRC raised its stake in shares of Cipher Mining by 41.4% in the second quarter. Tower Research Capital LLC TRC now owns 31,770 shares of the company’s stock worth $152,000 after purchasing an additional 9,295 shares during the last quarter. Northern Right Capital Management L.P. purchased a new position in Cipher Mining during the 2nd quarter worth approximately $846,000. Finally, Tidal Investments LLC raised its holdings in shares of Cipher Mining by 28.3% during the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock worth $33,386,000 after purchasing an additional 1,541,138 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors.

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.