Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Holding Ltd V3 Sells 500,000 Shares

Key Points

• Holding Ltd V3, a major shareholder of Cipher Mining Inc., sold 500,000 shares at an average price of $6.55, totaling approximately $3.27 million, which represents a 0.54% decrease in their position.
• Cipher Mining's stock is currently trading at $6.47, with a trading volume significantly lower than its average, and it has a 1-year low of $1.86 and a high of $7.77.
• Several analysts have given Cipher Mining a generally positive outlook, with a consensus price target of $7.63 and most ratings classified as "buy" or "overweight."

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $6.55, for a total transaction of $3,275,000.00. Following the completion of the transaction, the insider directly owned 92,878,292 shares in the company, valued at $608,352,812.60. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• 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.

Cipher Mining Stock Performance

NASDAQ CIFR traded down $0.48 on Tuesday, reaching $5.68. The stock had a trading volume of 21,793,828 shares, compared to its average volume of 41,500,384. The stock has a market cap of $1.90 billion, a P/E ratio of -15.78 and a beta of 2.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11. The business's 50-day moving average price is $4.75 and its 200 day moving average price is $4.14. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC grew its holdings in Cipher Mining by 3.6% in the fourth quarter. Voya Investment Management LLC now owns 59,135 shares of the company's stock valued at $274,000 after purchasing an additional 2,036 shares during the last quarter. Xponance Inc. boosted its stake in shares of Cipher Mining by 17.8% during the fourth quarter. Xponance Inc. now owns 14,151 shares of the company's stock valued at $66,000 after acquiring an additional 2,140 shares during the last quarter. Russell Investments Group Ltd. boosted 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 valued at $67,000 after acquiring an additional 2,149 shares during the last quarter. Mackenzie Financial Corp boosted 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 valued at $61,000 after acquiring an additional 2,754 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in 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 buying an additional 2,940 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CIFR shares. Cantor Fitzgerald raised 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. Jones Trading assumed coverage on Cipher Mining in a research report on Monday, July 21st. They set a "hold" rating for the company. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research report on Thursday, May 8th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Cipher Mining presently has an average rating of "Buy" and an average price target of $7.63.

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.