Cipher Mining (NASDAQ:CIFR) Major Shareholder Holding Ltd V3 Sells 1,585,182 Shares

Key Points

• Holding Ltd V3, a major shareholder of Cipher Mining Inc., sold 1,585,182 shares at an average price of $11.61, totaling approximately $18.4 million, decreasing their stake by 2.22%.
• In addition to the initial sale, Holding Ltd V3 conducted multiple sales of Cipher Mining shares in September, with total sales amounting to several transactions exceeding $100 million.
• Cipher Mining's stock experienced a slight decline of 0.5%, trading at $12.59, and remains under analysis with price targets significantly raised by various analysts, indicating a strong market interest.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 1,585,182 shares of the company's stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $11.61, for a total transaction of $18,403,963.02. Following the completion of the transaction, the insider owned 69,852,537 shares of the company's stock, valued at $810,987,954.57. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Monday, September 29th, Holding Ltd V3 sold 2,000,000 shares of Cipher Mining stock. The shares were sold at an average price of $12.08, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction of $9,720,000.00.
• On Friday, September 12th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was 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 value 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 value of $4,488,000.00.

Cipher Mining Trading Down 0.5%

Cipher Mining stock traded down $0.06 during mid-day trading on Tuesday, hitting $12.59. The company's stock had a trading volume of 47,100,875 shares, compared to its average volume of 52,056,788. 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 quick ratio of 4.18 and a current ratio of 4.18. The company has a 50 day moving average of $7.99 and a 200-day moving average of $5.16. The stock has a market cap of $4.95 billion, a PE ratio of -29.28 and a beta of 2.76.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.12). Cipher Mining had a negative return on equity of 21.71% and a negative net margin of 96.95%.The firm had revenue of $43.57 million during the quarter, compared to analysts' expectations of $51.89 million. On average, research analysts anticipate that Cipher Mining Inc. will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC increased its position 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 worth $43,000 after purchasing an additional 6,516 shares in the last quarter. Signal Advisors Wealth LLC purchased a new position in shares of Cipher Mining in the second quarter worth about $48,000. Custos Family Office LLC purchased a new position in Cipher Mining in the 2nd quarter worth approximately $48,000. Maripau Wealth Management LLC bought a new stake in Cipher Mining during the 2nd quarter valued at $48,000. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Cipher Mining in the 2nd quarter worth about $54,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on CIFR shares. Macquarie upped their target price on Cipher Mining from $8.00 to $16.00 and gave the company an "outperform" rating in a research report on Monday. Compass Point started coverage on Cipher Mining in a report on Monday, September 15th. They set a "buy" rating on the stock. Canaccord Genuity Group lifted their price target on Cipher Mining from $12.00 to $16.00 and gave the stock a "buy" rating in a research note on Monday. HC Wainwright boosted their target price on Cipher Mining from $7.50 to $17.00 and gave the stock a "buy" rating in a report on Monday. Finally, Rosenblatt Securities lifted their price objective on shares of Cipher Mining from $9.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $15.23.

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.

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