Insider Selling: Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells 700,000 Shares of Stock

Key Points

• Holding Ltd V3, a major shareholder of Cipher Mining, sold 700,000 shares at an average price of $7.60, totaling over $5.3 million, reducing their ownership to 86,642,259 shares.
• The latest trading day saw Cipher Mining's stock increase by 2.7% to $7.72, with over 27 million shares exchanged, surpassing its average volume.
• Cipher Mining's recent earnings report showed an EPS of ($0.12), meeting expectations, but revenue fell short of estimates at $43.57 million.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 700,000 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $7.60, for a total value of $5,320,000.00. Following the completion of the transaction, the insider owned 86,642,259 shares in the company, valued at approximately $658,481,168.40. The trade was a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 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 Friday, September 5th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The shares were sold at an average price of $7.38, for a total value of $4,428,000.00.
• On Tuesday, September 2nd, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The shares were sold at an average price of $8.13, for a total value of $4,878,000.00.
• 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 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 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.
• 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 Trading Up 2.7%

NASDAQ:CIFR traded up $0.20 on Monday, hitting $7.72. 27,203,337 shares of the stock were exchanged, compared to its average volume of 22,040,291. The stock has a market cap of $3.04 billion, a PE ratio of -17.95 and a beta of 2.76. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $6.08 and a 200-day moving average of $4.24. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $8.78.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12). Cipher Mining had a negative return on equity of 21.71% and a negative net margin of 96.95%.The business had revenue of $43.57 million during the quarter, compared to analyst estimates of $51.89 million. As a group, equities analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Cipher Mining

Several hedge funds have recently made changes to their positions in CIFR. Stoneridge Investment Partners LLC acquired a new stake in Cipher Mining in the 1st quarter valued at approximately $29,000. FNY Investment Advisers LLC increased its position in 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 acquiring an additional 4,800 shares during the period. Valeo Financial Advisors LLC acquired a new stake in Cipher Mining in the 1st quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC increased its position in Cipher Mining by 258.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company's stock valued at $43,000 after acquiring an additional 6,516 shares during the period. Finally, Signal Advisors Wealth LLC acquired a new stake in Cipher Mining in the 2nd quarter valued at approximately $48,000. Institutional investors own 12.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Macquarie increased their target price on Cipher Mining from $6.00 to $8.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Jones Trading started coverage on Cipher Mining in a report on Monday, July 21st. They issued a "hold" rating for the company. Canaccord Genuity Group increased their price target on Cipher Mining from $8.00 to $9.00 and gave the company a "buy" rating in a report on Tuesday, August 19th. Finally, Cantor Fitzgerald increased their price target on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $7.67.

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.

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