Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells $10,593,000.00 in Stock

Key Points

• Holding Ltd V3 sold 900,000 shares of Cipher Mining stock at an average price of $11.77, totaling approximately $10.59 million, resulting in a 1.12% decrease in their shareholding.
• Cipher Mining's stock price increased by 7.6% during trading, reaching $12.38, and it has a 52-week trading range with a low of $1.86 and a high of $12.66.
• Several institutional investors have increased their stakes in Cipher Mining, with notable growth from Geode Capital Management and Tidal Investments, reflecting growing confidence in the company.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 900,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $11.77, for a total transaction of $10,593,000.00. Following the sale, the insider directly owned 79,442,259 shares in the company, valued at $935,035,388.43. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 shares were sold at an average price of $10.60, for a total transaction 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 transaction of $8,982,000.00.
• On Monday, September 8th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The shares were sold at an average price of $7.48, for a total transaction of $4,488,000.00.
• On Friday, September 5th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The shares were sold at an average price of $7.38, for a total transaction of $4,428,000.00.
• On Thursday, September 4th, Holding Ltd V3 sold 700,000 shares of Cipher Mining stock. The shares were 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 shares were 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.

Cipher Mining Trading Up 3.6%

NASDAQ CIFR traded up $0.43 during trading hours on Friday, hitting $12.28. The company's stock had a trading volume of 39,319,837 shares, compared to its average volume of 37,461,952. The stock has a fifty day moving average of $7.06 and a 200 day moving average of $4.69. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $12.82. The firm has a market capitalization of $4.83 billion, a P/E ratio of -28.56 and a beta of 2.75. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.23.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $51.89 million. Equities research analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CIFR shares. Jones Trading initiated coverage on shares of Cipher Mining in a report on Monday, July 21st. They issued a "hold" rating on the stock. Compass Point initiated coverage on shares of Cipher Mining in a report on Monday, September 15th. They issued a "buy" rating on the stock. Canaccord Genuity Group increased their target price on shares of Cipher Mining from $9.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Macquarie increased their target price 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. Finally, Cantor Fitzgerald increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cipher Mining presently has an average rating of "Moderate Buy" and an average target price of $8.11.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in CIFR. Millennium Management LLC acquired a new stake in shares of Cipher Mining during the first quarter worth $9,316,000. Alyeska Investment Group L.P. acquired a new stake in shares of Cipher Mining during the first quarter worth $7,094,000. Helix Partners Management LP raised its holdings in shares of Cipher Mining by 95.8% during 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 during the period. JPMorgan Chase & Co. grew its position in Cipher Mining by 996.9% in the second quarter. JPMorgan Chase & Co. now owns 2,227,021 shares of the company's stock valued at $10,645,000 after purchasing an additional 2,023,994 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cipher Mining by 52.4% in 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. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.