Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Holding Ltd V3 Sells 500,000 Shares

Key Points

• Holding Ltd V3, a major shareholder of Cipher Mining Inc., sold a total of 1.5 million shares over several transactions, with the most recent sale occurring on July 25th at an average price of $6.45, resulting in proceeds of $3,225,000.
• As a result of these transactions, Holding Ltd V3's ownership decreased by 0.54%, while maintaining 91,878,292 shares valued at approximately $592.6 million.
• Cipher Mining's stock price fell by 7.8% to $5.68, reflecting a negative performance amid broader market conditions, despite recent institutional investments in the company.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 500,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $6.45, for a total transaction of $3,225,000.00. Following the sale, the insider owned 91,878,292 shares of the company's stock, valued at $592,614,983.40. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Monday, July 28th, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.19, for a total transaction of $3,095,000.00.
• On Wednesday, July 23rd, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.55, for a total transaction of $3,275,000.00.

Cipher Mining Stock Down 7.8%

Shares of Cipher Mining stock traded down $0.48 during midday trading on Tuesday, reaching $5.68. 21,793,828 shares of the company's stock traded hands, compared to its average volume of 21,149,307. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -15.78 and a beta of 2.72. The company's 50 day simple moving average is $4.71 and its 200 day simple moving average is $4.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.77.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.11). The business had revenue of $48.96 million for the quarter, compared to the consensus estimate of $53.57 million. Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. Equities analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC bought a new position in Cipher Mining in the 2nd quarter worth $127,000. 111 Capital bought a new position in Cipher Mining in the 2nd quarter worth $114,000. Custos Family Office LLC bought a new position in Cipher Mining in the 2nd quarter worth $48,000. Greenleaf Trust bought a new position in Cipher Mining in the 2nd quarter worth $108,000. Finally, Farther Finance Advisors LLC raised its holdings in Cipher Mining by 33.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 55,992 shares of the company's stock worth $268,000 after acquiring an additional 14,072 shares during the period. Institutional investors own 12.26% of the company's stock.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.50 price objective on shares of Cipher Mining in a research note on Wednesday, May 7th. Cantor Fitzgerald raised their price objective on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Thursday, May 8th. Jones Trading initiated coverage on shares of Cipher Mining in a research note on Monday, July 21st. They issued a "hold" rating for the company. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $7.63.

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.

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