Holding Ltd V3 Sells 1,200,000 Shares of Cipher Mining (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Holding Ltd V3 sold 1,200,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 58,316,694 shares of the company’s stock, valued at approximately $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 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.

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 Down 5.2%

CIFR opened at $23.03 on Wednesday. Cipher Mining Inc. has a twelve month low of $3.29 and a twelve month high of $28.62. 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 company has a 50-day moving average price of $19.48 and a 200 day moving average price of $17.43. The company has a market cap of $9.42 billion, a PE ratio of -9.88 and a beta of 3.18.

Cipher Mining (NASDAQ:CIFR) last released its quarterly 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 return on equity of 117.65% and a negative net margin of 427.79%.The company had revenue of $34.84 million for the quarter, compared to analyst estimates of $36.12 million. The business’s revenue was down 28.8% on a year-over-year basis. Sell-side analysts expect that Cipher Mining Inc. will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of Cipher Mining

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Cipher Mining by 43.2% during the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock valued at $482,360,000 after acquiring an additional 9,865,533 shares in the last quarter. Situational Awareness LP grew its stake in shares of Cipher Mining by 82.4% in the 4th quarter. Situational Awareness LP now owns 10,469,093 shares of the company’s stock valued at $154,524,000 after buying an additional 4,728,600 shares during the period. Geode Capital Management LLC grew its stake in shares of Cipher Mining by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 8,164,226 shares of the company’s stock valued at $120,519,000 after buying an additional 558,105 shares during the period. State Street Corp grew its stake in shares of Cipher Mining by 10.2% in the 4th quarter. State Street Corp now owns 8,078,423 shares of the company’s stock valued at $119,238,000 after buying an additional 745,030 shares during the period. Finally, Value Aligned Research Advisors LLC grew its stake in shares of Cipher Mining by 45.9% in the 4th quarter. Value Aligned Research Advisors LLC now owns 7,447,495 shares of the company’s stock valued at $109,925,000 after buying an additional 2,342,958 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Needham & Company LLC upped 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. Zacks Research raised shares of Cipher Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 25th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cipher Mining in a research note on Wednesday, May 6th. Rosenblatt Securities upped their price objective on shares of Cipher Mining from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut shares of Cipher Mining from a “hold” rating to a “strong sell” rating in a research note on Sunday, March 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.69.

About Cipher Mining

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.