Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells $2,019,933.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 490,275 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $4.12, for a total value of $2,019,933.00. Following the transaction, the insider now owns 110,520,831 shares of the company’s stock, valued at approximately $455,345,823.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares 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 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 transaction 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 transaction 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 stock was 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 stock was 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 transaction 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 transaction of $1,114,441.94.

Cipher Mining Trading Up 1.5 %

NASDAQ CIFR opened at $4.65 on Thursday. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $5.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.08 and a current ratio of 8.08. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 77.50 and a beta of 2.29. The company’s 50-day simple moving average is $4.19 and its two-hundred day simple moving average is $3.87.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. First Financial Bankshares Inc purchased a new position in Cipher Mining in the fourth quarter valued at about $9,901,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Cipher Mining by 30.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock worth $185,000 after buying an additional 10,998 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Cipher Mining by 107.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock worth $2,862,000 after acquiring an additional 358,897 shares in the last quarter. Shariaportfolio Inc. purchased a new stake in Cipher Mining during the fourth quarter valued at approximately $2,460,000. Finally, Wolverine Asset Management LLC acquired a new stake in Cipher Mining in the fourth quarter valued at approximately $49,000. 12.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CIFR has been the topic of a number of recent analyst reports. HC Wainwright increased their target price on 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 reiterated a “buy” rating and set a $6.00 price objective (up previously from $5.50) on shares of Cipher Mining in a report on Wednesday, May 8th. Cantor Fitzgerald started coverage on shares of Cipher Mining in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research note on Friday, June 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cipher Mining has an average rating of “Moderate Buy” and an average price target of $6.25.

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.