Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 667,010 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $6.11, for a total transaction of $4,075,431.10. Following the completion of the sale, the insider directly owned 93,667,437 shares in the company, valued at $572,308,040.07. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 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 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 stock was 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 value 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 value of $2,430,000.00.
Cipher Mining Price Performance
Shares of CIFR traded down $0.06 during trading hours on Friday, hitting $6.36. 27,622,011 shares of the company were exchanged, compared to its average volume of 15,650,376. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -17.67 and a beta of 2.72. Cipher Mining Inc. has a fifty-two week low of $1.86 and a fifty-two week 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 firm's fifty day moving average is $4.34 and its 200 day moving average is $4.09.
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). Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. The business had revenue of $48.96 million during the quarter, compared to the consensus estimate of $53.57 million. On average, equities analysts anticipate that Cipher Mining Inc. will post -0.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cipher Mining
Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC acquired a new stake in Cipher Mining during the fourth quarter worth approximately $29,000. Stoneridge Investment Partners LLC acquired a new stake in Cipher Mining during the first quarter worth approximately $29,000. FNY Investment Advisers LLC grew its stake in Cipher Mining by 42.9% during the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock worth $36,000 after purchasing an additional 4,800 shares during the period. Valeo Financial Advisors LLC acquired a new stake in Cipher Mining during the first quarter worth approximately $37,000. Finally, Signal Advisors Wealth LLC acquired a new stake in Cipher Mining during the second quarter worth approximately $48,000. Institutional investors and hedge funds own 12.26% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on CIFR. Canaccord Genuity Group reiterated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. Cantor Fitzgerald lifted their price objective on Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. HC Wainwright restated a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $5.50 price objective on shares of Cipher Mining in a 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $7.63.
Read Our Latest Analysis on CIFR
About Cipher Mining
(
Get Free Report)
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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