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

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $6.06, for a total transaction of $1,752,218.70. Following the transaction, the insider owned 93,378,292 shares in the company, valued at approximately $565,872,449.52. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions 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 shares were 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 shares were 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 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 shares were sold at an average price of $4.86, for a total value of $2,430,000.00.

Cipher Mining Price Performance

Cipher Mining stock traded down $0.06 during mid-day trading on Friday, reaching $6.36. The company had a trading volume of 27,622,011 shares, compared to its average volume of 15,650,376. The stock's 50-day simple moving average is $4.27 and its 200-day simple moving average is $4.08. Cipher Mining Inc. has a 1 year low of $1.86 and a 1 year high of $7.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization 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 released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm 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, equities analysts predict that Cipher Mining Inc. will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CIFR. NewEdge Advisors LLC acquired a new stake in Cipher Mining in the 4th quarter valued at about $29,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Cipher Mining in the first quarter valued at about $29,000. FNY Investment Advisers LLC grew its position in shares of Cipher Mining by 42.9% in the first 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 acquired a new stake in shares of Cipher Mining in the first quarter valued at approximately $37,000. Finally, Signal Advisors Wealth LLC purchased a new position in shares of Cipher Mining during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CIFR shares. Cantor Fitzgerald upped their price target on 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 restated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Canaccord Genuity Group restated a "buy" rating and issued a $8.00 target price on shares of Cipher Mining in a research note on Thursday, May 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. One research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $7.63.

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.