Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells $47,916,000.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,800,000 shares of Cipher Mining stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $26.62, for a total transaction of $47,916,000.00. Following the completion of the sale, the insider directly owned 59,516,694 shares in the company, valued at $1,584,334,394.28. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cipher Mining Trading Down 12.1%

NASDAQ:CIFR opened at $22.45 on Friday. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 6.13. The stock has a market capitalization of $9.18 billion, a PE ratio of -9.64 and a beta of 3.18. The firm’s 50 day moving average is $19.10 and its 200 day moving average is $17.29. Cipher Mining Inc. has a 12 month low of $3.29 and a 12 month high of $28.62.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The company had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The firm’s revenue was down 28.8% on a year-over-year basis. Sell-side analysts expect that Cipher Mining Inc. will post -0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Rosenblatt Securities lifted their price objective on shares of Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley reduced their price objective on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating for the company in a research note on Thursday. Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Finally, HC Wainwright lifted their price objective on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CIFR. Vanguard Group Inc. grew its position in shares of Cipher Mining by 43.2% during the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after purchasing an additional 9,865,533 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Cipher Mining during the 3rd quarter valued at $70,524,000. Value Aligned Research Advisors LLC purchased a new position in shares of Cipher Mining during the 3rd quarter valued at $64,266,000. Situational Awareness LP grew its position in shares of Cipher Mining by 82.4% during the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after purchasing an additional 4,728,600 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Cipher Mining by 3,718.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,292,790 shares of the company’s stock valued at $63,359,000 after purchasing an additional 4,180,362 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Cipher Mining Company Profile

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.