Holding Ltd V3 Sells 1,800,000 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,800,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total value of $47,916,000.00. Following the sale, the insider owned 59,516,694 shares in the company, valued at approximately $1,584,334,394.28. The trade was a 2.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Cipher Mining Stock Down 2.6%

NASDAQ:CIFR traded down $0.69 on Thursday, hitting $25.55. The stock had a trading volume of 25,932,256 shares, compared to its average volume of 27,760,178. The business’s fifty day moving average is $18.75 and its 200 day moving average is $17.17. The company has a market cap of $10.45 billion, a PE ratio of -10.97 and a beta of 3.18. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 6.13. Cipher Mining Inc. has a 52 week low of $3.29 and a 52 week high of $28.62.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $34.84 million during the quarter, compared to the consensus estimate of $36.12 million. Cipher Mining had a negative return on equity of 117.65% and a negative net margin of 427.79%.The company’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, equities research analysts expect that Cipher Mining Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

CIFR has been the subject of several analyst reports. Needham & Company LLC increased their price objective on Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cipher Mining in a research note on Friday, March 27th. Keefe, Bruyette & Woods increased their price objective on Cipher Mining from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, May 6th. Finally, Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. Sixteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.69.

Institutional Trading of Cipher Mining

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Cipher Mining by 13.4% in the third quarter. Vanguard Group Inc. now owns 22,814,653 shares of the company’s stock worth $287,236,000 after acquiring an additional 2,699,717 shares during the period. American Century Companies Inc. boosted its holdings in shares of Cipher Mining by 138.2% in the third quarter. American Century Companies Inc. now owns 1,406,864 shares of the company’s stock worth $17,712,000 after acquiring an additional 816,198 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Cipher Mining by 16.6% in the fourth quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock worth $9,915,000 after acquiring an additional 95,686 shares during the period. Foundations Investment Advisors LLC bought a new stake in Cipher Mining during the fourth quarter valued at $667,000. Finally, Private Advisor Group LLC boosted its stake in Cipher Mining by 15.7% during the third quarter. Private Advisor Group LLC now owns 1,789,462 shares of the company’s stock valued at $22,529,000 after buying an additional 242,894 shares during the period. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Company Profile

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.