Top Holdco B.V. Bitfury Sells 376,320 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 376,320 shares of Cipher Mining stock in a transaction on Monday, June 17th. The shares were sold at an average price of $4.82, for a total value of $1,813,862.40. Following the completion of the sale, the insider now owns 114,053,847 shares in the company, valued at approximately $549,739,542.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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, 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.
• 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.
• On Friday, May 24th, Top Holdco B.V. Bitfury sold 294,811 shares of Cipher Mining stock. The shares were sold at an average price of $4.08, for a total value of $1,202,828.88.

Cipher Mining Trading Up 0.2 %

NASDAQ:CIFR opened at $5.01 on Wednesday. The stock has a 50-day simple moving average of $4.08 and a 200-day simple moving average of $3.73. The stock has a market cap of $1.55 billion, a P/E ratio of 83.51 and a beta of 2.28. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $5.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.08 and a current ratio of 8.08.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CIFR shares. HC Wainwright upped their price target on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price target (up previously 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, Cantor Fitzgerald started coverage on Cipher Mining in a report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cipher Mining currently has an average rating of “Moderate Buy” and an average target price of $6.25.

Institutional Trading of Cipher Mining

A number of large investors have recently made changes to their positions in CIFR. New York State Common Retirement Fund boosted its position in shares of Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock valued at $25,000 after purchasing an additional 5,592 shares during the period. Barclays PLC boosted its position in shares of Cipher Mining by 93.4% in the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares during the period. Sloy Dahl & Holst LLC acquired a new stake in shares of Cipher Mining in the 4th quarter valued at about $44,000. Wolverine Asset Management LLC acquired a new stake in shares of Cipher Mining in the 4th quarter valued at about $49,000. Finally, Bellecapital International Ltd. acquired a new stake in shares of Cipher Mining in the 4th quarter valued at about $51,000. 12.26% of the stock is owned by institutional investors and hedge funds.

About Cipher Mining

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.