Insider Selling: Cipher Mining (NASDAQ:CIFR) Major Shareholder Sells 1,200,000 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,200,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the transaction, the insider owned 58,316,694 shares of the company’s stock, valued at $1,486,492,530.06. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large 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, June 3rd, Holding Ltd V3 sold 1,800,000 shares of Cipher Mining stock. The shares were sold at an average price of $26.62, for a total transaction of $47,916,000.00.

Cipher Mining Trading Up 8.2%

Shares of CIFR traded up $1.84 during midday trading on Monday, hitting $24.29. The stock had a trading volume of 19,363,131 shares, compared to its average volume of 27,664,174. Cipher Mining Inc. has a 1 year low of $3.29 and a 1 year high of $28.62. The firm has a market cap of $9.94 billion, a PE ratio of -10.42 and a beta of 3.18. The company has a debt-to-equity ratio of 6.13, a current ratio of 3.13 and a quick ratio of 3.13. The stock’s 50 day moving average is $19.10 and its 200 day moving average is $17.31.

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

Wall Street Analyst Weigh In

Several research firms recently commented on CIFR. Sanford C. Bernstein began coverage on shares of Cipher Mining in a research note on Wednesday. They issued an “outperform” rating and a $32.00 price target on the stock. Jefferies Financial Group began coverage on shares of Cipher Mining in a research note on Thursday, May 14th. They issued a “buy” rating and a $32.00 price target on the stock. Wall Street Zen downgraded shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. Morgan Stanley dropped their target price on shares of Cipher Mining from $53.50 to $48.50 and set an “overweight” rating on the stock in a report on Thursday. Finally, Zacks Research upgraded shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cipher Mining presently has an average rating of “Moderate Buy” and a consensus target price of $27.69.

Institutional Trading of Cipher Mining

A number of institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in Cipher Mining in the 4th quarter worth approximately $25,000. Arax Advisory Partners boosted its stake in Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock worth $27,000 after purchasing an additional 1,338 shares in the last quarter. GAMMA Investing LLC boosted its stake in Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock worth $28,000 after purchasing an additional 1,286 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Cipher Mining in the 4th quarter worth approximately $28,000. Finally, Danske Bank A S boosted its stake in Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock worth $37,000 after purchasing an additional 2,300 shares in the last quarter. 12.26% of the stock is currently owned by 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.