Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells $3,798,082.12 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $6.23, for a total value of $3,798,082.12. Following the completion of the sale, the insider now directly owns 109,911,187 shares of the company’s stock, valued at approximately $684,746,695.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 28th, Top Holdco B.V. Bitfury sold 490,275 shares of Cipher Mining stock. The stock was sold at an average price of $4.12, for a total value of $2,019,933.00.
• On Wednesday, June 26th, Top Holdco B.V. Bitfury sold 466,915 shares of Cipher Mining stock. The stock was sold at an average price of $4.30, for a total value of $2,007,734.50.
• On Monday, June 24th, Top Holdco B.V. Bitfury sold 443,830 shares of Cipher Mining stock. The stock was sold at an average price of $4.33, for a total value of $1,921,783.90.
• On Thursday, June 20th, Top Holdco B.V. Bitfury sold 394,357 shares of Cipher Mining stock. The stock was 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 value 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 value of $1,830,210.00.
• On Wednesday, June 12th, Top Holdco B.V. Bitfury sold 336,377 shares of Cipher Mining stock. The shares were sold at an average price of $4.58, for a total value 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 value of $1,346,134.87.
• On Wednesday, June 5th, Top Holdco B.V. Bitfury sold 299,953 shares of Cipher Mining stock. The shares were 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.

Cipher Mining Stock Up 4.4 %

Shares of NASDAQ:CIFR traded up $0.27 on Monday, hitting $6.46. 9,378,996 shares of the company traded hands, compared to its average volume of 9,022,744. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99. 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 stock has a 50 day simple moving average of $4.50 and a 200-day simple moving average of $3.96. The company has a market cap of $2.00 billion, a PE ratio of 103.18 and a beta of 2.29.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%. The company had revenue of $48.14 million during the quarter, compared to the consensus estimate of $50.05 million.

Wall Street Analysts Forecast Growth

CIFR has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on Cipher Mining in a research report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price target (up from $5.50) on shares of Cipher Mining in a report on Wednesday, May 8th. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a report on Friday, June 7th. Finally, HC Wainwright raised their price target on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.40.

Institutional Investors Weigh In On Cipher Mining

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new stake in Cipher Mining in the 1st quarter worth about $52,000. Sloy Dahl & Holst LLC purchased a new position in Cipher Mining in the fourth quarter worth about $44,000. Price T Rowe Associates Inc. MD purchased a new position in Cipher Mining in the first quarter worth about $59,000. Wolverine Asset Management LLC purchased a new position in Cipher Mining in the fourth quarter worth about $49,000. Finally, Bellecapital International Ltd. purchased a new position in Cipher Mining in the fourth quarter worth about $51,000. 12.26% of the stock is currently owned by institutional investors.

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.