Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 308,973 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFRGet Free Report) major shareholder Top Holdco B.V. Bitfury sold 308,973 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $3.72, for a total value of $1,149,379.56. Following the sale, the insider now directly owns 117,012,102 shares of the company’s stock, valued at $435,285,019.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Thursday, May 30th, Top Holdco B.V. Bitfury sold 298,778 shares of Cipher Mining stock. The stock was sold at an average price of $3.73, for a total transaction of $1,114,441.94.
  • On Tuesday, May 28th, Top Holdco B.V. Bitfury sold 296,357 shares of Cipher Mining stock. The stock was sold at an average price of $3.99, for a total transaction of $1,182,464.43.
  • On Friday, May 24th, Top Holdco B.V. Bitfury sold 294,811 shares of Cipher Mining stock. The shares were sold at an average price of $4.08, for a total transaction of $1,202,828.88.

Cipher Mining Price Performance

Cipher Mining stock opened at $3.64 on Tuesday. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.13 billion, a PE ratio of 60.68 and a beta of 2.28. The firm’s 50-day simple moving average is $4.12 and its 200 day simple moving average is $3.59. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $5.75.

Cipher Mining (NASDAQ:CIFRGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 earnings per share for the quarter. The business had revenue of $48.14 million during the quarter, compared to analysts’ expectations of $50.05 million. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%. On average, equities research analysts predict that Cipher Mining Inc. will post -0.01 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIFR. California State Teachers Retirement System boosted its stake in shares of Cipher Mining by 19.4% during the 1st quarter. California State Teachers Retirement System now owns 61,546 shares of the company’s stock worth $317,000 after purchasing an additional 10,019 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Cipher Mining during the first quarter valued at approximately $59,000. Gabelli Funds LLC boosted its position in Cipher Mining by 25.0% during the first quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock worth $258,000 after acquiring an additional 10,000 shares during the last quarter. Vident Advisory LLC raised its holdings in Cipher Mining by 94.9% in the 1st quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock valued at $11,537,000 after acquiring an additional 1,090,811 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Cipher Mining by 62.0% during the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after purchasing an additional 2,164,383 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CIFR. Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of Cipher Mining in a research note on Thursday, March 28th. Canaccord Genuity Group reissued a “buy” rating and issued a $6.00 target price (up previously from $5.50) on shares of Cipher Mining in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research note on Friday, May 17th. Finally, HC Wainwright raised their price objective on shares of Cipher Mining from $4.50 to $5.50 and gave the company a “buy” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $5.50.

View Our Latest Report 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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