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

Cipher Mining Inc. (NASDAQ:CIFRGet Free Report) major shareholder Holding Ltd V3 sold 1,800,000 shares of the firm’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 $1,584,334,394.28. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Cipher Mining Trading Down 2.6%

Shares of CIFR traded down $0.69 during trading hours on Thursday, hitting $25.55. The company had a trading volume of 25,932,256 shares, compared to its average volume of 27,760,178. Cipher Mining Inc. has a 52-week low of $3.29 and a 52-week high of $28.62. The firm has a market cap of $10.45 billion, a P/E 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. The stock’s 50 day moving average price is $18.75 and its 200 day moving average price is $17.17.

Cipher Mining (NASDAQ:CIFRGet Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $34.84 million for the quarter, compared to analysts’ expectations of $36.12 million. The business’s revenue was down 28.8% on a year-over-year basis. On average, research analysts predict that Cipher Mining Inc. will post -0.8 EPS for the current year.

Institutional Trading of Cipher Mining

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 2,699,717 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Cipher Mining by 138.2% during the third quarter. American Century Companies Inc. now owns 1,406,864 shares of the company’s stock valued at $17,712,000 after acquiring an additional 816,198 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Cipher Mining by 16.6% during the fourth quarter. HighTower Advisors LLC now owns 671,775 shares of the company’s stock valued at $9,915,000 after acquiring an additional 95,686 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $667,000. Finally, Private Advisor Group LLC raised its stake in shares of 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 acquiring an additional 242,894 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CIFR. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a research report on Wednesday, May 6th. Wall Street Zen cut Cipher Mining from a “hold” rating to a “strong sell” rating in a research report on Sunday, March 1st. Needham & Company LLC boosted their price target on Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Zacks Research raised Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Finally, Sanford C. Bernstein assumed coverage on Cipher Mining in a research note on Wednesday. They issued an “outperform” rating and a $32.00 price target for the company. Sixteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.69.

Get Our Latest Stock Report on CIFR

Cipher Mining Company Profile

(Get Free Report)

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.

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