Top Holdco B.V. Bitfury Sells 667,010 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 667,010 shares of Cipher Mining stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $6.11, for a total transaction of $4,075,431.10. Following the transaction, the insider directly owned 93,667,437 shares of the company's stock, valued at approximately $572,308,040.07. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 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 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 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 shares were 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 transaction of $3,648,000.00.
• 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 transaction of $2,430,000.00.

Cipher Mining Price Performance

Shares of CIFR traded up $0.30 during trading hours on Wednesday, reaching $6.27. The company had a trading volume of 43,908,410 shares, compared to its average volume of 15,583,319. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -17.42 and a beta of 2.72. Cipher Mining Inc. has a 12-month low of $1.86 and a 12-month high of $7.99. The firm has a 50 day simple moving average of $4.14 and a 200-day simple moving average of $4.05. 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 announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $48.96 million for the quarter, compared to analyst estimates of $53.57 million. Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. Research analysts expect that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Institutional Trading of Cipher Mining

A number of hedge funds have recently made changes to their positions in CIFR. V3 Holding Ltd bought a new position in shares of Cipher Mining in the 4th quarter worth about $452,713,000. Millennium Management LLC bought a new stake in Cipher Mining in the first quarter worth about $9,316,000. Alyeska Investment Group L.P. acquired a new stake in Cipher Mining during the 1st quarter worth about $7,094,000. Lone Pine Capital LLC acquired a new position in shares of Cipher Mining in the 4th quarter valued at about $10,878,000. Finally, Helix Partners Management LP acquired a new position in shares of Cipher Mining in the 4th quarter valued at about $10,426,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CIFR shares. Canaccord Genuity Group reiterated a "buy" rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Thursday, May 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 price objective on shares of Cipher Mining in a report on Wednesday, May 7th. Cantor Fitzgerald raised their price target 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. Finally, HC Wainwright reissued a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Cipher Mining currently has a consensus rating of "Buy" and an average price target 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.

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