Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells $18,403,963.02 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,585,182 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $11.61, for a total transaction of $18,403,963.02. Following the completion of the sale, the insider directly owned 69,852,537 shares of the company’s stock, valued at approximately $810,987,954.57. The trade was a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Holding Ltd V3 also recently made the following trade(s):

• On Monday, September 29th, Holding Ltd V3 sold 2,000,000 shares of Cipher Mining stock. The stock was sold at an average price of $12.08, for a total value of $24,160,000.00.
• 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 value of $43,316,114.40.
• On Wednesday, September 24th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The shares were 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 stock was 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 transaction 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 transaction of $9,540,000.00.
• On Wednesday, September 10th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was 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 transaction of $4,488,000.00.

Cipher Mining Stock Up 9.6%

Shares of NASDAQ CIFR opened at $13.81 on Friday. Cipher Mining Inc. has a 52-week low of $1.86 and a 52-week high of $15.54. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -32.12 and a beta of 2.87. The stock has a 50 day moving average price of $8.25 and a 200 day moving average price of $5.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18.

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

Wall Street Analysts Forecast Growth

CIFR has been the subject of a number of research reports. Arete started coverage on shares of Cipher Mining in a research note on Wednesday, September 24th. They issued a “buy” rating and a $24.00 price objective for the company. Compass Point began coverage on shares of Cipher Mining in a report on Monday, September 15th. They issued a “buy” rating for the company. JPMorgan Chase & Co. upped their price target on shares of Cipher Mining from $6.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, September 26th. 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 report on Thursday, June 5th. Finally, Jones Trading began coverage on shares of Cipher Mining in a research note on Monday, July 21st. They issued a “hold” rating for the company. Twelve investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.23.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stoneridge Investment Partners LLC purchased a new position in shares of Cipher Mining in the 1st quarter valued at approximately $29,000. FNY Investment Advisers LLC raised its stake in shares of Cipher Mining by 42.9% in the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company’s stock worth $36,000 after purchasing an additional 4,800 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Cipher Mining during the first quarter worth about $37,000. Steward Partners Investment Advisory LLC lifted its stake in Cipher Mining by 258.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after acquiring an additional 6,516 shares during the period. Finally, Signal Advisors Wealth LLC purchased a new stake in Cipher Mining in the second quarter valued at $48,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

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.