Insider Selling: Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells 1,901,112 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $2.87, for a total value of $5,456,191.44. Following the completion of the sale, the insider now directly owns 102,044,892 shares of the company’s stock, valued at approximately $292,868,840.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 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, September 6th, Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock. The shares were 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 stock was sold at an average price of $3.02, for a total value of $5,741,358.24.
• On Thursday, July 18th, Top Holdco B.V. Bitfury sold 609,644 shares of Cipher Mining stock. The shares were sold at an average price of $6.23, for a total transaction of $3,798,082.12.
• On Friday, June 28th, Top Holdco B.V. Bitfury sold 490,275 shares of Cipher Mining stock. The stock was sold at an average price of $4.12, for a total transaction of $2,019,933.00.
• On Wednesday, June 26th, Top Holdco B.V. Bitfury sold 466,915 shares of Cipher Mining stock. The stock was sold at an average price of $4.30, for a total transaction 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 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 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 shares were sold at an average price of $4.58, for a total value of $1,540,606.66.

Cipher Mining Trading Up 5.4 %

CIFR stock opened at $3.11 on Wednesday. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $7.99. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. The firm has a market cap of $964.19 million, a P/E ratio of 51.83 and a beta of 2.25. The company’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $4.21.

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 analysts’ consensus estimates of ($0.05). The company had revenue of $36.81 million for the quarter, compared to the consensus estimate 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 prior year, the business posted ($0.05) earnings per share. As a group, equities analysts forecast that Cipher Mining Inc. will post -0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CIFR has been the subject of several research reports. Compass Point lifted their price objective on shares of Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. HC Wainwright boosted their target price 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. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Thursday, August 29th. Needham & Company LLC boosted their price objective on Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cipher Mining has a consensus rating of “Buy” and an average target price of $7.42.

Institutional Investors Weigh In On Cipher Mining

Institutional investors have recently added to or reduced their stakes in the stock. First Financial Bankshares Inc purchased a new position in Cipher Mining during the fourth quarter valued at $9,901,000. Vanguard Group Inc. lifted its stake in Cipher Mining by 62.0% in the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock valued at $29,134,000 after buying an additional 2,164,383 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Cipher Mining by 38.9% in the 1st quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after buying an additional 765,238 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Cipher Mining by 30.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock worth $185,000 after buying an additional 10,998 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Cipher Mining by 27.0% during the first quarter. Swiss National Bank now owns 125,600 shares of the company’s stock valued at $647,000 after acquiring an additional 26,700 shares during the last quarter. Institutional investors and hedge funds 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.