Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 432,990 Shares

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 432,990 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $6.13, for a total transaction of $2,654,228.70. Following the transaction, the insider directly owned 94,334,447 shares of the company's stock, valued at $578,270,160.11. This trade represents a 0.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, July 15th, Top Holdco B.V. Bitfury sold 289,145 shares of Cipher Mining stock. The stock was sold at an average price of $6.06, for a total transaction of $1,752,218.70.
• On Tuesday, July 15th, Top Holdco B.V. Bitfury sold 289,145 shares of Cipher Mining stock. The stock was sold at an average price of $6.06, for a total transaction of $1,752,218.70.
• On Monday, July 14th, Top Holdco B.V. Bitfury sold 667,010 shares of Cipher Mining stock. The stock was sold at an average price of $6.11, for a total transaction of $4,075,431.10.
• On Thursday, July 10th, Top Holdco B.V. Bitfury sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.27, for a total transaction of $3,762,000.00.
• On Tuesday, July 8th, Top Holdco B.V. Bitfury sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.08, for a total transaction 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 transaction of $2,430,000.00.

Cipher Mining Stock Up 2.4%

NASDAQ CIFR traded up $0.15 during trading hours on Thursday, reaching $6.42. 31,579,458 shares of the company traded hands, compared to its average volume of 15,602,177. The company has a 50 day moving average of $4.27 and a two-hundred day moving average of $4.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.77. The stock has a market capitalization of $2.15 billion, a PE ratio of -17.83 and a beta of 2.72.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, meeting 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 the consensus estimate of $53.57 million. As a group, equities analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research report on Thursday, May 8th. HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $5.50 price objective on shares of Cipher Mining in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $7.63.

Institutional Trading of Cipher Mining

Several hedge funds have recently bought and sold shares of CIFR. NewEdge Advisors LLC bought a new stake in Cipher Mining in the 4th quarter valued at about $29,000. Stoneridge Investment Partners LLC bought a new stake in Cipher Mining in the 1st quarter valued at about $29,000. FNY Investment Advisers LLC lifted its position in Cipher Mining by 42.9% in the 1st quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock valued at $36,000 after purchasing an additional 4,800 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Cipher Mining in the 1st quarter valued at about $37,000. Finally, Signal Advisors Wealth LLC bought a new stake in Cipher Mining in the 2nd quarter valued at about $48,000. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Company Profile

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.