Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Holding Ltd V3 sold 1,200,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $25.49, for a total value 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 represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 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 shares were sold at an average price of $26.62, for a total value of $47,916,000.00.
Cipher Mining Stock Performance
NASDAQ CIFR opened at $24.29 on Tuesday. The stock has a market capitalization of $9.94 billion, a PE ratio of -10.42 and a beta of 3.18. The business has a 50 day simple moving average of $19.29 and a two-hundred day simple moving average of $17.37. 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.
Cipher Mining (NASDAQ:CIFR - Get Free Report) 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). The firm 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%. 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 fiscal year.
Analysts Set New Price Targets
Several research firms have weighed in on CIFR. Weiss Ratings restated a "sell (d-)" rating on shares of Cipher Mining in a report on Friday, March 27th. Keefe, Bruyette & Woods lifted their target price on Cipher Mining from $23.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Morgan Stanley dropped their target price on Cipher Mining from $53.50 to $48.50 and set an "overweight" rating for the company in a report on Thursday, June 4th. BTIG Research reiterated a "buy" rating and issued a $25.00 target price on shares of Cipher Mining in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald dropped their target price on Cipher Mining from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.69.
View Our Latest Report on CIFR
Institutional Investors Weigh In On Cipher Mining
Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in shares of Cipher Mining during the 4th quarter worth approximately $25,000. Arax Advisory Partners lifted its stake in shares of Cipher Mining by 274.2% during 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 during the last quarter. GAMMA Investing LLC lifted its stake 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 worth $28,000 after acquiring an additional 1,286 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Cipher Mining during the 4th quarter worth approximately $28,000. Finally, Danske Bank A S raised its position in Cipher Mining by 1,150.0% during the 4th quarter. Danske Bank A S now owns 2,500 shares of the company's stock valued at $37,000 after purchasing an additional 2,300 shares in the last quarter. 12.26% of the stock is owned by institutional investors.
Cipher Mining Company Profile
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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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