Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 376,320 Shares

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 376,320 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $4.82, for a total value of $1,813,862.40. Following the sale, the insider now owns 114,053,847 shares of the company’s stock, valued at approximately $549,739,542.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Top Holdco B.V. Bitfury also recently made the following trade(s):

• 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 shares were 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 shares were 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 shares were 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 Stock Performance

Shares of CIFR opened at $5.00 on Tuesday. The stock’s 50-day simple moving average is $4.06 and its 200 day simple moving average is $3.72. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 83.35 and a beta of 2.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.08 and a current ratio of 8.08. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $5.75.

Cipher Mining (NASDAQ:CIFR) last issued 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 analysts’ expectations of $50.05 million. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CIFR shares. Cantor Fitzgerald started coverage on Cipher Mining in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 price objective for the company. HC Wainwright upped their price target 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 reaffirmed a “buy” rating and set a $6.00 price target (up previously from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Friday, June 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Institutional Trading of Cipher Mining

Institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new stake in Cipher Mining during the 1st quarter worth about $52,000. Sloy Dahl & Holst LLC bought a new position in Cipher Mining in the 4th quarter worth about $44,000. New York State Common Retirement Fund increased its stake in Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock worth $25,000 after acquiring an additional 5,592 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Cipher Mining in the 1st quarter worth about $59,000. Finally, Wolverine Asset Management LLC bought a new position in Cipher Mining in the 4th quarter worth about $49,000. Hedge funds and other 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.