Insider Selling: Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells 432,990 Shares of Stock

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 on Friday, July 11th. The shares were sold at an average price of $6.13, for a total value of $2,654,228.70. Following the completion of the transaction, the insider directly owned 94,334,447 shares in the company, valued at $578,270,160.11. This represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 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 value of $3,762,000.00.
• 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 Stock Performance

CIFR stock traded up $0.16 during mid-day trading on Monday, reaching $6.03. 39,126,858 shares of the stock traded hands, compared to its average volume of 20,049,967. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $4.02 and a two-hundred day moving average of $4.03. The firm has a market capitalization of $2.02 billion, a PE ratio of -16.75 and a beta of 2.72. 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 released its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. The firm had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. As a group, equities analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CIFR. HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Canaccord Genuity Group restated a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Thursday, May 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 price objective on shares of Cipher Mining in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald lifted their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. One 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $7.63.

Institutional Trading of Cipher Mining

A number of hedge funds have recently bought and sold shares of the stock. V3 Holding Ltd acquired a new stake in shares of Cipher Mining in the 4th quarter valued at $452,713,000. Vanguard Group Inc. lifted its holdings in Cipher Mining by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company's stock valued at $84,318,000 after purchasing an additional 1,189,756 shares during the last quarter. Invesco Ltd. boosted its position in Cipher Mining by 16.7% in the fourth quarter. Invesco Ltd. now owns 6,443,723 shares of the company's stock valued at $29,899,000 after buying an additional 924,262 shares in the last quarter. Geode Capital Management LLC boosted its position in Cipher Mining by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company's stock valued at $26,583,000 after buying an additional 218,137 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in Cipher Mining by 11.9% during the first quarter. Vident Advisory LLC now owns 4,753,772 shares of the company's stock worth $10,934,000 after buying an additional 503,694 shares during the last quarter. 12.26% of the stock is 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.

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