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 on Friday, June 28th. The stock was sold at an average price of $4.12, for a total value of $2,019,933.00. Following the completion of the transaction, the insider now owns 110,520,831 shares in the company, valued at $455,345,823.72. The transaction was disclosed in a document filed with the SEC, which is available 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 Wednesday, June 26th, Top Holdco B.V. Bitfury sold 466,915 shares of Cipher Mining stock. The shares were 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 shares were 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 stock was 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 shares were 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 transaction 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 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 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 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 transaction of $1,114,441.94.

Cipher Mining Trading Down 3.0 %

Shares of Cipher Mining stock opened at $4.58 on Wednesday. Cipher Mining Inc. has a twelve month low of $2.15 and a twelve month high of $5.89. 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 business has a 50-day moving average price of $4.19 and a 200-day moving average price of $3.86. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 76.35 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 earnings per share (EPS) for the quarter. The business had revenue of $48.14 million for the quarter, compared to the consensus estimate of $50.05 million. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds have recently bought and sold shares of the business. First Financial Bankshares Inc purchased a new position in shares of Cipher Mining in the 4th quarter worth $9,901,000. Vanguard Group Inc. increased its stake in Cipher Mining by 62.0% in the first quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after purchasing an additional 2,164,383 shares during the period. Vident Advisory LLC increased its stake in Cipher Mining by 94.9% in the 1st quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after buying an additional 1,090,811 shares during the period. Van ECK Associates Corp raised its stake in shares of Cipher Mining by 38.9% during the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock valued at $14,079,000 after acquiring an additional 765,238 shares in the last quarter. Finally, Shariaportfolio Inc. purchased a new stake in shares of Cipher Mining in the fourth quarter valued at approximately $2,460,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.