Insider Selling: Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells 66,049 Shares of Stock

Key Points

• Major shareholder Holding Ltd V3 sold 66,049 shares of Cipher Mining Inc. (NASDAQ:CIFR) at an average price of $6.06, decreasing their ownership by 0.07%.
• Cipher Mining's shares recently traded at $5.46, with a market capitalization of $1.83 billion and performance indicators showing a negative earnings per share of -0.11.
• A consensus of analysts rated Cipher Mining with a "Buy" rating, suggesting potential growth, and setting an average price target of $7.63 for the stock.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 66,049 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $6.06, for a total value of $400,256.94. Following the transaction, the insider owned 91,312,243 shares of the company's stock, valued at approximately $553,352,192.58. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more 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 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 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 Trading Up 0.2%

Shares of NASDAQ:CIFR traded up $0.01 during midday trading on Thursday, reaching $5.46. The company's stock had a trading volume of 18,524,147 shares, compared to its average volume of 21,095,924. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -15.17 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 firm has a 50 day moving average price of $4.78 and a two-hundred day moving average price of $4.15. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $7.77.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting 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 the consensus estimate of $53.57 million. As a group, analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Institutional Trading of Cipher Mining

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CIFR shares. Rosenblatt Securities restated a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Jones Trading initiated coverage on Cipher Mining in a research report on Monday, July 21st. They issued a "hold" rating for the company. Cantor Fitzgerald raised their price objective on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Thursday, May 8th. Two 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. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.