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Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 600,000 Shares

Cipher Mining logo with Business Services background

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 600,000 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $6.27, for a total transaction of $3,762,000.00. Following the transaction, the insider owned 94,767,437 shares of the company's stock, valued at $594,191,829.99. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Top Holdco B.V. Bitfury also recently made the following trade(s):

  • On Friday, July 11th, Top Holdco B.V. Bitfury sold 432,990 shares of Cipher Mining stock. The stock was sold at an average price of $6.13, for a total value of $2,654,228.70.
  • On Tuesday, July 8th, Top Holdco B.V. Bitfury sold 600,000 shares of Cipher Mining stock. The shares were sold at an average price of $6.08, for a total value of $3,648,000.00.
  • On Tuesday, July 1st, Top Holdco B.V. Bitfury sold 500,000 shares of Cipher Mining stock. The stock was sold at an average price of $4.86, for a total value of $2,430,000.00.

Cipher Mining Trading Up 2.7%

Shares of Cipher Mining stock traded up $0.16 on Monday, reaching $6.03. 39,126,858 shares of the company's stock were exchanged, compared to its average volume of 20,049,967. The firm's 50-day moving average is $4.02 and its two-hundred day moving average is $4.03. The company has a market capitalization of $2.02 billion, a P/E ratio of -16.75 and a beta of 2.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11. Cipher Mining Inc. has a 52 week low of $1.86 and a 52 week high of $7.99.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. The business had revenue of $48.96 million during the quarter, compared to analysts' expectations of $53.57 million. Sell-side analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

Several large investors have recently made changes to their positions in CIFR. Farther Finance Advisors LLC raised its holdings in Cipher Mining by 33.6% during the second quarter. Farther Finance Advisors LLC now owns 55,992 shares of the company's stock worth $268,000 after buying an additional 14,072 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Cipher Mining during the second quarter worth about $94,000. Signal Advisors Wealth LLC bought a new stake in shares of Cipher Mining during the second quarter worth about $48,000. DLK Investment Management LLC raised its holdings in shares of Cipher Mining by 18.4% in the 2nd quarter. DLK Investment Management LLC now owns 19,300 shares of the company's stock worth $92,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Cipher Mining by 2.3% in the 1st quarter. Rhumbline Advisers now owns 276,376 shares of the company's stock valued at $636,000 after acquiring an additional 6,270 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CIFR shares. Rosenblatt Securities reissued a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a report on Wednesday, May 7th. Cantor Fitzgerald boosted their price objective on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a research report on Thursday, May 8th. Finally, HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $7.63.

Check Out Our Latest Report on CIFR

About Cipher Mining

(Get Free Report)

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.

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