Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells $2,007,734.50 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 466,915 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $4.30, for a total transaction of $2,007,734.50. Following the transaction, the insider now owns 111,489,712 shares of the company’s stock, valued at approximately $479,405,761.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% 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 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 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 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 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 stock was 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 shares were sold at an average price of $3.91, for a total transaction of $1,172,816.23.
• On Monday, June 3rd, Top Holdco B.V. Bitfury sold 308,973 shares of Cipher Mining stock. The stock was sold at an average price of $3.72, for a total transaction of $1,149,379.56.
• On Thursday, May 30th, Top Holdco B.V. Bitfury sold 298,778 shares of Cipher Mining stock. The shares were 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 Trading Down 1.0 %

NASDAQ CIFR opened at $4.15 on Friday. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $5.89. The stock has a market capitalization of $1.29 billion, a P/E ratio of 69.17 and a beta of 2.28. The firm’s 50-day moving average is $4.19 and its two-hundred day moving average is $3.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.08 and a quick ratio of 8.08.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 earnings per share for the quarter. The firm 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%.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Cipher Mining in a research note on Friday, June 7th. HC Wainwright lifted their target price on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $6.00 price target (up previously from $5.50) on shares of Cipher Mining in a research note on Wednesday, May 8th. Finally, Cantor Fitzgerald started coverage on shares of Cipher Mining in a report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 price target for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

Institutional Investors Weigh In On Cipher Mining

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in Cipher Mining by 93.4% during the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after acquiring an additional 7,720 shares during the period. Sloy Dahl & Holst LLC purchased a new position in shares of Cipher Mining in the fourth quarter valued at approximately $44,000. Wolverine Asset Management LLC purchased a new stake in Cipher Mining during the 4th quarter worth approximately $49,000. Bellecapital International Ltd. purchased a new stake in Cipher Mining during the 4th quarter worth approximately $51,000. Finally, Calamos Advisors LLC acquired a new stake in Cipher Mining during the 4th quarter worth approximately $52,000. 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.