Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report) major shareholder Holding Ltd V3 sold 1,200,000 shares of Cipher Mining stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $25.49, for a total transaction of $30,588,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock 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 stock was sold at an average price of $26.62, for a total transaction of $47,916,000.00.
Cipher Mining Stock Performance
CIFR traded up $1.84 during trading on Monday, reaching $24.29. 19,363,131 shares of the company’s stock were exchanged, 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 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 has a market capitalization of $9.94 billion, a P/E ratio of -10.42 and a beta of 3.18. The company’s fifty day simple moving average is $19.10 and its 200-day simple moving average is $17.31.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CIFR. Rosenblatt Securities raised their price target on shares of Cipher Mining from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC raised their price target on shares of Cipher Mining from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. BTIG Research reissued a “buy” rating and set a $25.00 price target on shares of Cipher Mining in a research report on Wednesday, May 6th. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 25th. Finally, Jefferies Financial Group began coverage on shares of Cipher Mining in a report on Thursday, May 14th. They set a “buy” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.
Check Out Our Latest Stock Report on CIFR
Hedge Funds Weigh In On Cipher Mining
Several institutional investors have recently made changes to their positions in the company. Abel Hall LLC increased its holdings in shares of Cipher Mining by 3.8% during the 1st quarter. Abel Hall LLC now owns 20,140 shares of the company’s stock valued at $259,000 after purchasing an additional 739 shares in the last quarter. CWM LLC increased its holdings in shares of Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares in the last quarter. Prospera Financial Services Inc increased its holdings in shares of Cipher Mining by 6.7% during the 4th quarter. Prospera Financial Services Inc now owns 15,600 shares of the company’s stock valued at $230,000 after purchasing an additional 980 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cipher Mining by 218.3% during the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company’s stock valued at $28,000 after purchasing an additional 1,286 shares in the last quarter. Finally, Arax Advisory Partners increased its holdings 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 acquiring an additional 1,338 shares in the last quarter. 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.
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