Top Holdco B.V. Bitfury Sells 466,915 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 466,915 shares of Cipher Mining stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $4.30, for a total transaction of $2,007,734.50. Following the completion of the sale, the insider now owns 111,489,712 shares of the company’s stock, valued at approximately $479,405,761.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large 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 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 value 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 value 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 value of $1,813,862.40.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 stock was sold at an average price of $3.73, for a total transaction of $1,114,441.94.
• On Tuesday, May 28th, Top Holdco B.V. Bitfury sold 296,357 shares of Cipher Mining stock. The stock was sold at an average price of $3.99, for a total transaction of $1,182,464.43.

Cipher Mining Stock Performance

Shares of Cipher Mining stock traded down $0.03 on Wednesday, reaching $4.21. 9,883,898 shares of the stock were exchanged, compared to its average volume of 8,626,865. Cipher Mining Inc. has a 1-year low of $2.15 and a 1-year high of $5.89. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average price of $4.18 and a two-hundred day moving average price of $3.80. The firm has a market capitalization of $1.31 billion, a PE ratio of 70.18 and a beta of 2.28.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC grew its position in Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock worth $37,000 after buying an additional 7,720 shares during the period. Sloy Dahl & Holst LLC acquired a new position in Cipher Mining during the fourth quarter worth about $44,000. Wolverine Asset Management LLC acquired a new position in Cipher Mining during the fourth quarter worth about $49,000. Bellecapital International Ltd. acquired a new position in Cipher Mining during the fourth quarter worth about $51,000. Finally, Calamos Advisors LLC acquired a new position in Cipher Mining during the fourth quarter worth about $52,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CIFR shares. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a research report on Friday, June 7th. Cantor Fitzgerald started coverage on shares of Cipher Mining in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $6.00 price target (up from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Finally, HC Wainwright boosted their price target on shares of Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company 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.