Top Holdco B.V. Bitfury Sells 1,000,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the completion of the transaction, the insider now directly owns 99,047,588 shares of the company’s stock, valued at approximately $616,075,997.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 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 Monday, September 9th, Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock. The stock was sold at an average price of $2.87, for a total transaction of $5,456,191.44.
• On Friday, September 6th, Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock. The stock was sold at an average price of $2.74, for a total value of $5,209,046.88.
• On Wednesday, September 4th, Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock. The shares were sold at an average price of $3.02, for a total transaction of $5,741,358.24.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $5.28 on Thursday. The company has a 50 day moving average of $3.92 and a 200 day moving average of $4.25. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. Cipher Mining Inc. has a 12 month low of $2.15 and a 12 month high of $7.99. The stock has a market cap of $1.77 billion, a P/E ratio of 88.00 and a beta of 2.25.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same quarter in the previous year, the company posted ($0.05) earnings per share. As a group, sell-side analysts forecast that Cipher Mining Inc. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

CIFR has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a research note on Thursday, August 29th. Compass Point increased their target price on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Macquarie initiated coverage on Cipher Mining in a research note on Tuesday, September 24th. They set an “outperform” rating and a $6.00 price target on the stock. Needham & Company LLC lifted their price target on shares of Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Thursday, October 3rd. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $7.21.

Institutional Investors Weigh In On Cipher Mining

A number of large investors have recently added to or reduced their stakes in CIFR. Amalgamated Bank lifted its holdings in Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after buying an additional 4,557 shares during the period. Farther Finance Advisors LLC bought a new position in shares of Cipher Mining in the third quarter worth approximately $33,000. Janney Montgomery Scott LLC purchased a new stake in Cipher Mining during the 1st quarter valued at $52,000. Xponance Inc. purchased a new stake in shares of Cipher Mining during the second quarter valued at $45,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Cipher Mining during the 1st quarter valued at about $59,000. Institutional investors own 12.26% of the company’s stock.

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.