Holding Ltd V3 Sells 600,000 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Key Points

• Holding Ltd V3 sold 600,000 shares of Cipher Mining (NASDAQ:CIFR) at an average price of $7.38, totaling $4,428,000, reducing their ownership by 0.69% to 86,042,259 shares.
• Cipher Mining's stock increased by 2.7% to $7.72, with a trading volume of 27,203,337 shares, exceeding its average volume of 22,040,291.
• Several institutional investors, including Geode Capital Management and Goldman Sachs Group, have increased their stakes in Cipher Mining, indicating strong investor interest.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 600,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $7.38, for a total transaction of $4,428,000.00. Following the completion of the sale, the insider directly owned 86,042,259 shares in the company, valued at $634,991,871.42. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 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 Thursday, September 4th, Holding Ltd V3 sold 700,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.60, for a total transaction of $5,320,000.00.
• On Tuesday, September 2nd, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $8.13, for a total transaction of $4,878,000.00.
• On Wednesday, July 30th, Holding Ltd V3 sold 369,984 shares of Cipher Mining stock. The shares were sold at an average price of $5.61, for a total transaction of $2,075,610.24.
• On Tuesday, July 29th, Holding Ltd V3 sold 66,049 shares of Cipher Mining stock. The shares were sold at an average price of $6.06, for a total transaction of $400,256.94.
• On Monday, July 28th, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The shares were sold at an average price of $6.19, for a total transaction of $3,095,000.00.
• On Friday, July 25th, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The shares were sold at an average price of $6.45, for a total transaction of $3,225,000.00.
• On Wednesday, July 23rd, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The shares were sold at an average price of $6.55, for a total transaction of $3,275,000.00.

Cipher Mining Stock Up 2.7%

Shares of NASDAQ:CIFR traded up $0.20 during midday trading on Monday, reaching $7.72. The company had a trading volume of 27,203,337 shares, compared to its average volume of 22,040,291. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.18 and a quick ratio of 4.18. The stock's fifty day moving average price is $6.08 and its 200-day moving average price is $4.24. The stock has a market capitalization of $3.04 billion, a P/E ratio of -17.95 and a beta of 2.76. Cipher Mining Inc. has a one year low of $1.86 and a one year high of $8.78.

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

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Cipher Mining by 18.1% during the second quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company's stock valued at $34,621,000 after purchasing an additional 1,108,850 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Cipher Mining by 28.3% during the second quarter. Tidal Investments LLC now owns 6,984,438 shares of the company's stock valued at $33,386,000 after purchasing an additional 1,541,138 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Cipher Mining by 11.9% during the first quarter. Vident Advisory LLC now owns 4,753,772 shares of the company's stock valued at $10,934,000 after purchasing an additional 503,694 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Cipher Mining by 52.4% during the first quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company's stock valued at $10,765,000 after purchasing an additional 1,610,073 shares in the last quarter. Finally, Helix Partners Management LP raised its position in Cipher Mining by 95.8% in the first quarter. Helix Partners Management LP now owns 4,400,000 shares of the company's stock worth $10,120,000 after acquiring an additional 2,153,058 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CIFR. Macquarie lifted their price objective on shares of Cipher Mining from $6.00 to $8.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Cantor Fitzgerald lifted their price objective on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Jones Trading started coverage on shares of Cipher Mining in a report on Monday, July 21st. They set a "hold" rating for the company. Finally, Canaccord Genuity Group boosted their price target on shares of Cipher Mining from $8.00 to $9.00 and gave the company a "buy" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cipher Mining currently has an average rating of "Moderate Buy" and a consensus target price of $7.67.

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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