Top Holdco B.V. Bitfury Sells 289,145 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $6.06, for a total transaction of $1,752,218.70. Following the completion of the sale, the insider directly owned 93,378,292 shares in the company, valued at $565,872,449.52. This trade represents a 0.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 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 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 transaction of $2,654,228.70.
• 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 shares were sold at an average price of $4.86, for a total transaction of $2,430,000.00.

Cipher Mining Stock Down 0.9%

Shares of NASDAQ:CIFR traded down $0.06 during midday trading on Friday, hitting $6.36. The stock had a trading volume of 27,622,011 shares, compared to its average volume of 15,650,376. Cipher Mining Inc. has a 12 month low of $1.86 and a 12 month high of $7.77. 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's 50-day simple moving average is $4.34 and its 200-day simple moving average is $4.09. The company has a market cap of $2.13 billion, a P/E ratio of -17.67 and a beta of 2.72.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting 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 company had revenue of $48.96 million during the quarter, compared to the consensus estimate of $53.57 million. On average, sell-side analysts forecast that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CIFR. Cantor Fitzgerald increased their price target on shares of Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research report 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 research report on Thursday, May 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 price target 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 given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cipher Mining currently has a consensus rating of "Buy" and an average target price of $7.63.

Institutional Inflows and Outflows

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

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.