Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells $400,256.94 in 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 on Tuesday, July 29th. The shares were sold at an average price of $6.06, for a total value of $400,256.94. Following the sale, the insider directly owned 91,312,243 shares in the company, valued at $553,352,192.58. This trade represents a 0.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major 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 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 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 stock was 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 stock was sold at an average price of $6.55, for a total value of $3,275,000.00.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR traded up $0.12 during trading on Monday, reaching $5.05. 4,742,552 shares of the company traded hands, compared to its average volume of 20,964,852. The firm's fifty day simple moving average is $4.85 and its 200 day simple moving average is $4.14. The stock has a market cap of $1.69 billion, a P/E 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 current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share 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 during the quarter, compared to analyst estimates of $53.57 million. As a group, research analysts anticipate that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cipher Mining

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC purchased a new position in shares of Cipher Mining in the 4th quarter valued at about $29,000. Stoneridge Investment Partners LLC purchased a new position in shares of Cipher Mining in the 1st quarter valued at about $29,000. FNY Investment Advisers LLC increased its stake in shares of Cipher Mining by 42.9% in the 1st quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock valued at $36,000 after purchasing an additional 4,800 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Cipher Mining in the 1st quarter valued at about $37,000. Finally, Signal Advisors Wealth LLC purchased a new position in shares of Cipher Mining in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

CIFR has been the subject of a number of recent analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Thursday, May 8th. 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a research report on Wednesday, May 7th. Jones Trading initiated coverage on Cipher Mining in a research report on Monday, July 21st. They set a "hold" rating for the company. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Two 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's stock. According to data from MarketBeat, the company currently has an average 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.