Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 600,000 Shares

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 600,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $6.08, for a total transaction of $3,648,000.00. Following the completion of the sale, the insider directly owned 95,967,437 shares of the company's stock, valued at $583,482,016.96. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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.

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

• 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 Price Performance

CIFR stock traded down $0.37 on Friday, hitting $5.87. 35,021,813 shares of the company's stock traded hands, compared to its average volume of 15,294,576. Cipher Mining Inc. has a 1-year low of $1.86 and a 1-year high of $7.99. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -16.31 and a beta of 2.72. The stock has a fifty day moving average of $4.02 and a 200-day moving average of $4.04. 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 (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $53.57 million. On average, analysts forecast that Cipher Mining Inc. will post -0.31 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIFR. NewEdge Advisors LLC acquired a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $29,000. Signal Advisors Wealth LLC acquired a new stake in shares of Cipher Mining during the second quarter valued at approximately $48,000. Rafferty Asset Management LLC acquired a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $49,000. Captrust Financial Advisors acquired a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $54,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Cipher Mining during the first quarter valued at approximately $29,000. 12.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CIFR shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Thursday, May 8th. Cantor Fitzgerald upped their target price 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. Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research report on Wednesday, May 7th. Finally, HC Wainwright restated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. One investment 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's stock. Based on data from MarketBeat, Cipher Mining has a consensus 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.