Holding Ltd V3 Sells 369,984 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Key Points

• Holding Ltd V3, a major shareholder in Cipher Mining Inc., sold 369,984 shares at an average price of $5.61, totaling over $2 million, reducing their ownership by 0.41%.
• Recent analyst upgrades include price target increases from Cantor Fitzgerald and Canaccord Genuity Group, with average price targets for Cipher Mining stock now estimated around $7.63.
• Cipher Mining reported a negative net margin of 81.21% for the last quarter and missed revenue expectations, bringing its EPS to -$0.11.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 369,984 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $5.61, for a total value of $2,075,610.24. Following the sale, the insider directly owned 90,942,259 shares of the company's stock, valued at approximately $510,186,072.99. This represents a 0.41% decrease in their ownership of the stock. The sale 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 stock are required to disclose their transactions with the SEC.

Holding Ltd V3 also recently made the following trade(s):

• 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 shares were 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 shares were 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 shares were sold at an average price of $6.55, for a total value of $3,275,000.00.

Cipher Mining Price Performance

CIFR traded up $0.12 during trading on Monday, hitting $5.05. The company's stock had a trading volume of 4,742,552 shares, compared to its average volume of 20,964,852. The firm's 50 day moving average price is $4.85 and its two-hundred day moving average price is $4.14. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -14.04 and a beta of 2.73. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.77. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $48.96 million during the quarter, compared to analysts' expectations of $53.57 million. Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. Sell-side analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC grew its stake in shares of Cipher Mining by 3.6% during the fourth quarter. Voya Investment Management LLC now owns 59,135 shares of the company's stock worth $274,000 after purchasing an additional 2,036 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Cipher Mining by 17.4% during the fourth quarter. Russell Investments Group Ltd. now owns 14,524 shares of the company's stock worth $67,000 after purchasing an additional 2,149 shares during the period. Mackenzie Financial Corp grew its stake in shares of Cipher Mining by 26.6% during the fourth quarter. Mackenzie Financial Corp now owns 13,095 shares of the company's stock worth $61,000 after purchasing an additional 2,754 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Cipher Mining by 7.9% during the second quarter. Teacher Retirement System of Texas now owns 38,281 shares of the company's stock worth $183,000 after purchasing an additional 2,812 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Cipher Mining by 11.7% during the first quarter. Wellington Management Group LLP now owns 27,990 shares of the company's stock worth $64,000 after purchasing an additional 2,940 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CIFR shares. Rosenblatt Securities reissued a "buy" rating and set a $5.50 price objective on shares of Cipher Mining in a report on Wednesday, May 7th. HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Cantor Fitzgerald raised their target price on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Jones Trading started coverage on Cipher Mining in a report on Monday, July 21st. They issued a "hold" rating on the stock. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $7.63.

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.