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

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 600,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $6.08, for a total value of $3,648,000.00. Following the transaction, the insider directly owned 95,967,437 shares in the company, valued at approximately $583,482,016.96. This represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 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 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 Price Performance

Shares of CIFR stock traded down $0.37 during mid-day trading on Friday, hitting $5.87. 35,021,813 shares of the stock traded hands, compared to its average volume of 15,294,576. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $7.99. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -16.31 and a beta of 2.72. The company's 50-day simple moving average is $4.02 and its 200-day simple moving average is $4.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $48.96 million for the quarter, compared to analysts' expectations of $53.57 million. Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. As a group, equities research analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Institutional Trading of Cipher Mining

Several large investors have recently added to or reduced their stakes in the company. V3 Holding Ltd acquired a new stake in Cipher Mining during the 4th quarter valued at $452,713,000. Vanguard Group Inc. raised its stake 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 period. Invesco Ltd. raised its stake in Cipher Mining by 16.7% during the 4th quarter. Invesco Ltd. now owns 6,443,723 shares of the company's stock valued at $29,899,000 after purchasing an additional 924,262 shares during the period. Geode Capital Management LLC raised its stake in Cipher Mining by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company's stock valued at $26,583,000 after purchasing an additional 218,137 shares during the period. Finally, Vident Advisory LLC raised its stake in Cipher Mining by 11.9% during the 1st quarter. Vident Advisory LLC now owns 4,753,772 shares of the company's stock valued at $10,934,000 after purchasing an additional 503,694 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CIFR has been the topic of a number of research analyst reports. Cantor Fitzgerald increased their target price on Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Rosenblatt Securities reissued a "buy" rating and issued a $5.50 price target on shares of Cipher Mining in a report on Wednesday, May 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. Finally, HC Wainwright restated a "buy" rating on shares of Cipher Mining in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target 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.