Top Holdco B.V. Bitfury Sells 443,830 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 443,830 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $4.33, for a total value of $1,921,783.90. Following the sale, the insider now directly owns 112,410,700 shares of the company’s stock, valued at $486,738,331. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 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 Thursday, June 20th, Top Holdco B.V. Bitfury sold 394,357 shares of Cipher Mining stock. The shares were 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 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 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 value 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 value 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 value of $1,182,464.43.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR opened at $4.19 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.08 and a current ratio of 8.08. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 69.84 and a beta of 2.28. The business’s 50-day simple moving average is $4.19 and its 200-day simple moving average is $3.80. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $5.89.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 EPS for the quarter. The business had revenue of $48.14 million for the quarter, compared to analyst estimates 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

Several research analysts have weighed in on CIFR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Cipher Mining in a research report on Friday, June 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $6.00 target price (up from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. HC Wainwright upped their target price on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Cantor Fitzgerald started coverage on Cipher Mining in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CIFR. Barclays PLC increased its holdings in shares of Cipher Mining by 93.4% during the 3rd quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after acquiring an additional 7,720 shares during the last quarter. Swiss National Bank acquired a new stake in Cipher Mining in the 3rd quarter valued at approximately $255,000. Exchange Traded Concepts LLC grew its holdings in Cipher Mining by 107.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock valued at $2,862,000 after buying an additional 358,897 shares during the last quarter. Bellecapital International Ltd. acquired a new stake in Cipher Mining in the 4th quarter valued at approximately $51,000. Finally, Strategic Blueprint LLC acquired a new stake in Cipher Mining in the 4th quarter valued at approximately $62,000. 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.