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 Inc. for approximately $4.49 million, bringing their total shares owned to 85,442,259, valued at about $639.11 million.
• In recent trading, Cipher Mining's stock jumped 11.2% to reach $10.25, with a market cap of $4.03 billion.
• Cipher Mining reported a loss of ($0.12) EPS for the last quarter and had revenues of $43.57 million, missing analysts' estimates of $51.89 million.

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 on Monday, September 8th. The shares were sold at an average price of $7.48, for a total value of $4,488,000.00. Following the completion of the transaction, the insider owned 85,442,259 shares in the company, valued at $639,108,097.32. The trade was a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% 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 Friday, September 5th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.38, for a total value of $4,428,000.00.
• 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 value 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 value of $4,878,000.00.
• On Wednesday, July 30th, Holding Ltd V3 sold 369,984 shares of Cipher Mining stock. The stock was sold at an average price of $5.61, for a total value of $2,075,610.24.
• On Tuesday, July 29th, Holding Ltd V3 sold 66,049 shares of Cipher Mining stock. The stock was sold at an average price of $6.06, for a total value of $400,256.94.
• 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 value of $3,095,000.00.
• On Friday, July 25th, Holding Ltd V3 sold 500,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.45, for a total value of $3,225,000.00.
• 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 value of $3,275,000.00.

Cipher Mining Trading Up 11.2%

Shares of NASDAQ:CIFR traded up $1.03 during midday trading on Wednesday, reaching $10.25. 69,072,426 shares of the company's stock were exchanged, compared to its average volume of 22,592,703. The firm's 50 day simple moving average is $6.22 and its two-hundred day simple moving average is $4.29. 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 has a market cap of $4.03 billion, a price-to-earnings ratio of -23.84 and a beta of 2.76. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $10.43.

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 (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). The firm had revenue of $43.57 million during 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%. As a group, sell-side analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cipher Mining

Large investors have recently modified their holdings of the stock. Stoneridge Investment Partners LLC purchased a new stake in shares of Cipher Mining during the first quarter worth approximately $29,000. FNY Investment Advisers LLC grew its holdings in Cipher Mining by 42.9% in the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock valued at $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 valued at $37,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Cipher Mining by 258.1% during the second 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 last quarter. Finally, Signal Advisors Wealth LLC acquired a new stake in shares of Cipher Mining during the second quarter valued at $48,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

Analyst Ratings Changes

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

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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