Top Holdco B.V. Bitfury Sells 500,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 500,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $2,430,000.00. Following the transaction, the insider directly owned 97,067,437 shares of the company's stock, valued at approximately $471,747,743.82. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Cipher Mining Trading Up 6.6%

Shares of CIFR stock traded up $0.38 on Friday, reaching $6.06. 49,906,013 shares of the stock were exchanged, compared to its average volume of 14,535,684. The stock has a market cap of $2.03 billion, a P/E ratio of -16.82 and a beta of 2.72. 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 firm has a 50 day moving average of $3.72 and a two-hundred day moving average of $4.01. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.99.

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

Institutional Trading of Cipher Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in shares of Cipher Mining during the 4th quarter worth $29,000. Rafferty Asset Management LLC purchased a new stake in Cipher Mining during the 4th quarter worth $49,000. Captrust Financial Advisors purchased a new stake in Cipher Mining during the 4th quarter worth $54,000. Stoneridge Investment Partners LLC purchased a new stake in Cipher Mining during the 1st quarter worth $29,000. Finally, GTS Securities LLC purchased a new stake in Cipher Mining during the 4th quarter worth $60,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and set a $5.50 price objective on shares of Cipher Mining in a research note on Wednesday, May 7th. Cantor Fitzgerald raised 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. HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Canaccord Genuity Group reiterated a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. downgraded Cipher Mining from an "overweight" rating to a "neutral" rating in a report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $7.63.

About Cipher Mining

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.