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 $6.19, amounting to a total of $3,095,000, reducing its ownership by 0.54%.
• Cipher Mining's stock has experienced a 7.8% decline recently, trading at $5.68, despite having a market capitalization of $1.90 billion.
• The company reported negative earnings per share of ($0.11) for its last quarter, with revenues falling short of expectations, highlighting ongoing financial challenges.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 500,000 shares of Cipher Mining stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $6.19, for a total value of $3,095,000.00. Following the completion of the transaction, the insider directly owned 91,378,292 shares in the company, valued at $565,631,627.48. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• 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 stock was sold at an average price of $6.06, for a total transaction of $400,256.94.
• 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 value of $3,275,000.00.

Cipher Mining Stock Down 9.7%

Shares of NASDAQ CIFR traded down $0.53 during trading on Friday, reaching $4.93. The company had a trading volume of 18,939,017 shares, compared to its average volume of 33,632,744. The business's 50-day moving average is $4.85 and its 200 day moving average is $4.16. The stock has a market cap of $1.65 billion, a PE ratio of -13.69 and a beta of 2.72. 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 issued its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $48.96 million for the quarter, compared to analysts' expectations of $53.57 million. Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. As a group, equities analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

A number of institutional investors have recently bought and sold shares of CIFR. HighTower Advisors LLC purchased a new position in shares of Cipher Mining during the 4th quarter valued at $84,000. American Century Companies Inc. raised its stake in Cipher Mining by 61.9% during the 4th quarter. American Century Companies Inc. now owns 455,041 shares of the company's stock valued at $2,111,000 after purchasing an additional 173,906 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Cipher Mining in the 4th quarter worth approximately $221,000. Vanguard Group Inc. lifted its holdings in Cipher Mining by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock worth $84,318,000 after purchasing an additional 1,189,756 shares in the last quarter. Finally, Corebridge Financial Inc. boosted its stake in Cipher Mining by 4.3% in the 4th quarter. Corebridge Financial Inc. now owns 100,691 shares of the company's stock worth $467,000 after purchasing an additional 4,162 shares during the period. 12.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CIFR shares. Cantor Fitzgerald boosted their target price on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. HC Wainwright reissued 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, May 7th. Finally, Jones Trading started coverage on shares of Cipher Mining in a research note on Monday, July 21st. They issued a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target 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.