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 business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $26.62, for a total transaction of $47,916,000.00. Following the sale, the insider directly owned 59,516,694 shares in the company, valued at $1,584,334,394.28. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cipher Mining Price Performance

Shares of CIFR opened at $22.45 on Friday. The firm has a market capitalization of $9.18 billion, a PE ratio of -9.64 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. Cipher Mining Inc. has a 1-year low of $3.29 and a 1-year high of $28.62. The company’s fifty day moving average price is $19.10 and its 200-day moving average price is $17.29.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CIFR shares. Sanford C. Bernstein started coverage on shares of Cipher Mining in a report on Wednesday. They set an “outperform” rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Cipher Mining from $23.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. HC Wainwright boosted their target price on shares of Cipher Mining from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. BTIG Research restated a “buy” rating and set a $25.00 target price on shares of Cipher Mining in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group began coverage on shares of Cipher Mining in a research report on Thursday, May 14th. They set a “buy” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cipher Mining has an average rating of “Moderate Buy” and an average price target of $27.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIFR. Vanguard Group Inc. raised its position in shares of Cipher Mining by 43.2% during the 4th quarter. Vanguard Group Inc. now owns 32,680,186 shares of the company’s stock worth $482,360,000 after purchasing an additional 9,865,533 shares during the last quarter. Situational Awareness LP lifted its stake in 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 in the last quarter. Geode Capital Management LLC lifted its stake in 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 in the last quarter. State Street Corp lifted its stake in 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 in the last quarter. Finally, Value Aligned Research Advisors LLC lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.