Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 432,990 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 432,990 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $6.13, for a total value of $2,654,228.70. Following the completion of the sale, the insider directly owned 94,334,447 shares of the company’s stock, valued at approximately $578,270,160.11. This represents a 0.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, July 10th, Top Holdco B.V. Bitfury sold 600,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.27, for a total value of $3,762,000.00.
• On Tuesday, July 8th, Top Holdco B.V. Bitfury sold 600,000 shares of Cipher Mining stock. The stock was 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 Stock Up 2.7%

Shares of CIFR stock opened at $6.03 on Tuesday. The stock has a 50 day moving average of $4.08 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. The stock has a market cap of $2.02 billion, a P/E ratio of -16.75 and a beta of 2.72. Cipher Mining Inc. has a twelve month low of $1.86 and a twelve month high of $7.99.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $48.96 million during 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, sell-side analysts expect that Cipher Mining Inc. will post -0.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cantor Fitzgerald raised their price target on Cipher Mining from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Thursday, June 5th. HC Wainwright restated a “buy” rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Canaccord Genuity Group restated a “buy” rating and issued a $8.00 price objective on shares of Cipher Mining in a research note on Thursday, May 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.50 price objective on shares of Cipher Mining in a research note on Wednesday, May 7th. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $7.63.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. V3 Holding Ltd purchased a new position in Cipher Mining during the fourth quarter valued at approximately $452,713,000. Vanguard Group Inc. raised its position in Cipher Mining by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock valued at $84,318,000 after acquiring an additional 1,189,756 shares in the last quarter. Invesco Ltd. increased its position in shares of Cipher Mining by 16.7% in the fourth quarter. Invesco Ltd. now owns 6,443,723 shares of the company’s stock valued at $29,899,000 after buying an additional 924,262 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cipher Mining by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company’s stock valued at $26,583,000 after buying an additional 218,137 shares in the last quarter. Finally, Vident Advisory LLC increased its position in shares of Cipher Mining by 11.9% in the first quarter. Vident Advisory LLC now owns 4,753,772 shares of the company’s stock valued at $10,934,000 after buying an additional 503,694 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

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.