Top Holdco B.V. Bitfury Sells 443,830 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 443,830 shares of Cipher Mining stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $4.33, for a total value of $1,921,783.90. Following the transaction, the insider now owns 112,410,700 shares of the company’s stock, valued at approximately $486,738,331. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 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 Wednesday, June 26th, Top Holdco B.V. Bitfury sold 466,915 shares of Cipher Mining stock. The shares were sold at an average price of $4.30, for a total value of $2,007,734.50.
• On Thursday, June 20th, Top Holdco B.V. Bitfury sold 394,357 shares of Cipher Mining stock. The shares were sold at an average price of $5.54, for a total value of $2,184,737.78.
• On Monday, June 17th, Top Holdco B.V. Bitfury sold 376,320 shares of Cipher Mining stock. The stock was sold at an average price of $4.82, for a total transaction of $1,813,862.40.
• On Friday, June 14th, Top Holdco B.V. Bitfury sold 366,042 shares of Cipher Mining stock. The shares were sold at an average price of $5.00, for a total transaction of $1,830,210.00.
• On Wednesday, June 12th, Top Holdco B.V. Bitfury sold 336,377 shares of Cipher Mining stock. The stock was sold at an average price of $4.58, for a total transaction of $1,540,606.66.
• On Monday, June 10th, Top Holdco B.V. Bitfury sold 319,747 shares of Cipher Mining stock. The shares were sold at an average price of $4.21, for a total transaction of $1,346,134.87.
• On Wednesday, June 5th, Top Holdco B.V. Bitfury sold 299,953 shares of Cipher Mining stock. The stock was sold at an average price of $3.91, for a total value of $1,172,816.23.
• On Monday, June 3rd, Top Holdco B.V. Bitfury sold 308,973 shares of Cipher Mining stock. The shares were sold at an average price of $3.72, for a total value of $1,149,379.56.
• 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 value of $1,114,441.94.
• On Tuesday, May 28th, Top Holdco B.V. Bitfury sold 296,357 shares of Cipher Mining stock. The shares were sold at an average price of $3.99, for a total value of $1,182,464.43.

Cipher Mining Price Performance

CIFR opened at $4.15 on Friday. The firm has a 50-day moving average price of $4.19 and a 200-day moving average price of $3.81. Cipher Mining Inc. has a twelve month low of $2.15 and a twelve month high of $5.89. 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 company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 69.17 and a beta of 2.28.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter. Cipher Mining had a net margin of 13.54% and a return on equity of 4.66%. The business had revenue of $48.14 million for the quarter, compared to analysts’ expectations of $50.05 million.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CIFR shares. HC Wainwright increased their price target on shares of Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Canaccord Genuity Group reissued a “buy” rating and set a $6.00 target price (up from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a report on Friday, June 7th. Finally, Cantor Fitzgerald began coverage on Cipher Mining in a report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

Institutional Trading of Cipher Mining

Institutional investors have recently added to or reduced their stakes in the stock. First Financial Bankshares Inc bought a new stake in shares of Cipher Mining during the fourth quarter valued at about $9,901,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Cipher Mining by 30.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock worth $185,000 after acquiring an additional 10,998 shares during the period. Exchange Traded Concepts LLC lifted its stake in Cipher Mining by 107.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock worth $2,862,000 after purchasing an additional 358,897 shares in the last quarter. Shariaportfolio Inc. bought a new position in Cipher Mining in the 4th quarter valued at $2,460,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of Cipher Mining during the 4th quarter valued at $49,000. Hedge funds and other 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.