Cipher Mining (NASDAQ:CIFR) Major Shareholder Holding Ltd V3 Sells 1,200,000 Shares

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,200,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total value of $30,588,000.00. Following the transaction, the insider directly owned 58,316,694 shares in the company, valued at approximately $1,486,492,530.06. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $26.62, for a total value of $47,916,000.00.

Cipher Mining Trading Up 8.2%

Shares of NASDAQ:CIFR opened at $24.29 on Tuesday. Cipher Mining Inc. has a 1 year low of $3.29 and a 1 year high of $28.62. The stock’s fifty day moving average price is $19.29 and its 200-day moving average price is $17.37. 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 cap of $9.94 billion, a P/E ratio of -10.42 and a beta of 3.18.

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

Institutional Trading of Cipher Mining

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Cipher Mining during the fourth quarter worth about $25,000. Arax Advisory Partners grew its position in shares of Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after purchasing an additional 1,338 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cipher Mining by 218.3% during the fourth quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after purchasing an additional 1,286 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cipher Mining during the fourth quarter worth about $28,000. Finally, Danske Bank A S grew its position in shares of Cipher Mining by 1,150.0% during the fourth quarter. Danske Bank A S now owns 2,500 shares of the company’s stock worth $37,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a report on Friday, March 27th. Sanford C. Bernstein assumed coverage on Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 target price on the stock. Morgan Stanley lowered their target price on Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Finally, Jefferies Financial Group assumed 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.69.

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.