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

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 600,000 shares of Cipher Mining stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $6.27, for a total transaction of $3,762,000.00. Following the transaction, the insider directly owned 94,767,437 shares in the company, valued at approximately $594,191,829.99. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Friday, July 11th, Top Holdco B.V. Bitfury sold 432,990 shares of Cipher Mining stock. The shares were sold at an average price of $6.13, for a total transaction of $2,654,228.70.
• 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 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 Stock Performance

NASDAQ CIFR opened at $6.03 on Tuesday. 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 company has a market capitalization of $2.02 billion, a P/E ratio of -16.75 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 moving average price of $4.08 and a two-hundred day moving average price of $4.04.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. The company had revenue of $48.96 million during the quarter, compared to the consensus estimate of $53.57 million. Analysts anticipate that Cipher Mining Inc. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CIFR shares. HC Wainwright restated a “buy” rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $8.00 price target on shares of Cipher Mining in a research note on Thursday, May 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald upped their price target on shares of Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cipher Mining currently has an average rating of “Buy” and a consensus price target of $7.63.

Institutional Trading of Cipher Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new stake in shares of Cipher Mining during the 4th quarter worth approximately $29,000. Signal Advisors Wealth LLC bought a new position in Cipher Mining in the 2nd quarter valued at approximately $48,000. Rafferty Asset Management LLC bought a new position in Cipher Mining in the 4th quarter valued at approximately $49,000. Captrust Financial Advisors bought a new position in Cipher Mining in the 4th quarter valued at approximately $54,000. Finally, Stoneridge Investment Partners LLC bought a new position in Cipher Mining in the 1st quarter valued at approximately $29,000. Institutional investors own 12.26% of the company’s stock.

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.