Holding Ltd V3 Sells 535,843 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Key Points

• Holding Ltd V3, a major shareholder of Cipher Mining Inc., sold 535,843 shares on October 16th for a total of $10,888,329.76, reducing their ownership by 0.87% to approximately 61.3 million shares worth over $1.2 billion.
• Cipher Mining's stock recently traded down by 11.0% to $18.72, with a significant 49 million shares exchanged on Thursday, contrasting with an average volume of about 27 million shares.
• Analysts have mixed views on Cipher Mining, with recommendations ranging from a "buy" rating with a price target of $24.00 to a "sell" rating, leading to an average target price estimate of $17.68.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 535,843 shares of the company's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $20.32, for a total value of $10,888,329.76. Following the transaction, the insider directly owned 61,316,694 shares in the company, valued at approximately $1,245,955,222.08. This represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 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, October 15th, Holding Ltd V3 sold 2,167,684 shares of Cipher Mining stock. The shares were sold at an average price of $21.06, for a total transaction of $45,651,425.04.
• On Tuesday, October 14th, Holding Ltd V3 sold 1,832,316 shares of Cipher Mining stock. The shares were sold at an average price of $20.78, for a total transaction of $38,075,526.48.
• On Friday, September 26th, Holding Ltd V3 sold 1,585,182 shares of Cipher Mining stock. The shares were sold at an average price of $11.61, for a total transaction of $18,403,963.02.
• 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 shares were 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 shares were 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 shares were 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.

Cipher Mining Trading Down 11.0%

Shares of Cipher Mining stock traded down $2.31 on Thursday, hitting $18.72. 49,042,303 shares of the company's stock traded hands, compared to its average volume of 27,039,244. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $22.00. The firm's 50-day moving average price is $10.47 and its two-hundred day moving average price is $6.21. The stock has a market capitalization of $7.36 billion, a PE ratio of -43.53 and a beta of 2.87.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, meeting analysts' consensus estimates of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The business had revenue of $43.57 million during the quarter, compared to analysts' expectations of $51.89 million. On average, research analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current fiscal 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 boosted its stake in shares of 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 buying an additional 6,516 shares during the last quarter. Signal Advisors Wealth LLC bought a new position in Cipher Mining in the second quarter valued at approximately $48,000. Custos Family Office LLC acquired a new position in shares of Cipher Mining during the 2nd quarter worth approximately $48,000. Maripau Wealth Management LLC bought a new stake in shares of Cipher Mining during the 2nd quarter worth approximately $48,000. Finally, Scott Capital Advisors LLC acquired a new stake in shares of Cipher Mining in the 3rd quarter valued at approximately $126,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Cipher Mining from $12.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Arete Research assumed coverage on shares of Cipher Mining in a research note on Wednesday, September 24th. They issued a "buy" rating and a $24.00 price target on the stock. Compass Point started coverage on shares of Cipher Mining in a research report on Monday, September 15th. They set a "buy" rating for the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Cipher Mining in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Cipher Mining from $6.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, September 26th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cipher Mining has an average rating of "Moderate Buy" and an average target price of $17.68.

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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