Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells $9,720,000.00 in Stock

Key Points

• Holding Ltd V3, a major shareholder of Cipher Mining, sold 900,000 shares of stock on September 15 for a total of $9.72 million, reducing their ownership by 1.10% to approximately 81.2 million shares.
• Cipher Mining's stock price reached $12.38 during trading, reflecting a significant rise from its 12-month low of $1.86, with a current trading volume of nearly 34 million shares.
• Recent analyst ratings for Cipher Mining have been generally positive, with Canaccord Genuity raising the target price from $9.00 to $13.00 and several firms issuing "buy" ratings.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 900,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $10.80, for a total transaction of $9,720,000.00. Following the sale, the insider directly owned 81,242,259 shares in the company, valued at $877,416,397.20. The trade was a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more 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, September 17th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $11.77, for a total transaction of $10,593,000.00.
• On Friday, September 12th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $10.60, for a total transaction of $9,540,000.00.
• On Wednesday, September 10th, Holding Ltd V3 sold 900,000 shares of Cipher Mining stock. The stock was sold at an average price of $9.98, for a total transaction of $8,982,000.00.
• On Monday, September 8th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.48, for a total transaction of $4,488,000.00.
• On Friday, September 5th, Holding Ltd V3 sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $7.38, for a total transaction of $4,428,000.00.
• On Thursday, September 4th, Holding Ltd V3 sold 700,000 shares of Cipher Mining stock. The shares were sold at an average price of $7.60, for a total transaction of $5,320,000.00.
• 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 transaction 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 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 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 transaction of $3,095,000.00.

Cipher Mining Stock Up 3.6%

CIFR traded up $0.43 during trading on Friday, hitting $12.28. 39,319,837 shares of the company's stock were exchanged, compared to its average volume of 37,461,952. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $7.06 and its two-hundred day moving average is $4.69. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week high of $12.82. The stock has a market cap of $4.83 billion, a P/E ratio of -28.56 and a beta of 2.75.

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

Hedge Funds Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stoneridge Investment Partners LLC bought a new position in Cipher Mining during the 1st quarter valued at about $29,000. FNY Investment Advisers LLC grew its holdings in Cipher Mining by 42.9% during the 1st quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock valued at $36,000 after buying an additional 4,800 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Cipher Mining during the 1st quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC lifted its position in Cipher Mining by 258.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company's stock worth $43,000 after buying an additional 6,516 shares during the last quarter. Finally, Signal Advisors Wealth LLC bought a new stake in Cipher Mining in the second quarter worth $48,000. Institutional investors own 12.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald increased their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Macquarie lifted their target price on shares of Cipher Mining from $6.00 to $8.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Compass Point initiated coverage on shares of Cipher Mining in a report on Monday, September 15th. They issued a "buy" rating for the company. Jones Trading initiated coverage on shares of Cipher Mining in a report on Monday, July 21st. They issued a "hold" rating for the company. Finally, Canaccord Genuity Group lifted their target price on shares of Cipher Mining from $9.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Cipher Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.11.

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.