Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 394,357 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 394,357 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $5.54, for a total transaction of $2,184,737.78. Following the sale, the insider now directly owns 113,271,323 shares of the company’s stock, valued at approximately $627,523,129.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 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 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 stock was 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 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 stock was 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.
• 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 Down 6.4 %

Shares of Cipher Mining stock opened at $4.27 on Tuesday. The stock has a fifty day moving average price of $4.14 and a 200-day moving average price of $3.79. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $5.89. The firm has a market cap of $1.32 billion, a PE ratio of 71.17 and a beta of 2.28. 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 announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 earnings per share 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 analyst estimates of $50.05 million.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HC Wainwright raised their price objective on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Canaccord Genuity Group restated a “buy” rating and set a $6.00 price objective (up from $5.50) on shares of Cipher Mining in a research note on Wednesday, May 8th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a research note on Friday, June 7th. Finally, Cantor Fitzgerald assumed coverage on Cipher Mining in a research report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

Institutional Investors Weigh In On Cipher Mining

Several large investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its holdings in Cipher Mining by 50.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after acquiring an additional 5,000 shares during the last quarter. Barclays PLC grew 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 buying an additional 7,720 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Cipher Mining during the 1st quarter valued at about $52,000. Gabelli Funds LLC grew its holdings in Cipher Mining by 25.0% during the 1st quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock valued at $258,000 after buying an additional 10,000 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Cipher Mining by 19.4% during the 1st quarter. California State Teachers Retirement System now owns 61,546 shares of the company’s stock valued at $317,000 after buying an additional 10,019 shares in the last quarter. 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.