Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 490,275 Shares of Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 490,275 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $4.12, for a total transaction of $2,019,933.00. Following the sale, the insider now directly owns 110,520,831 shares of the company’s stock, valued at approximately $455,345,823.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major 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 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 Monday, June 24th, Top Holdco B.V. Bitfury sold 443,830 shares of Cipher Mining stock. The stock was 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 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 stock was 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 shares were 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 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 stock was sold at an average price of $3.73, for a total value of $1,114,441.94.

Cipher Mining Stock Performance

Shares of CIFR opened at $4.72 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.08 and a quick ratio of 8.08. The firm’s 50 day moving average is $4.20 and its 200-day moving average is $3.85. Cipher Mining Inc. has a 12-month low of $2.15 and a 12-month high of $5.89. The stock has a market capitalization of $1.46 billion, a P/E ratio of 78.68 and a beta of 2.29.

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

Wall Street Analysts Forecast Growth

CIFR has been the topic of a number of recent analyst reports. HC Wainwright lifted their price objective on shares of Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Friday, June 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 price objective (up from $5.50) on shares of Cipher Mining in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald started coverage on Cipher Mining in a report on Tuesday, June 11th. They set 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 assigned a buy rating to the stock. According to data from MarketBeat, Cipher Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds have recently modified their holdings of CIFR. Barclays PLC lifted its holdings in shares of Cipher Mining by 93.4% during the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares during the last quarter. Sloy Dahl & Holst LLC acquired a new position in shares of Cipher Mining in the fourth quarter worth about $44,000. Wolverine Asset Management LLC purchased a new position in shares of Cipher Mining in the fourth quarter worth approximately $49,000. Bellecapital International Ltd. purchased a new position in shares of Cipher Mining in the fourth quarter worth approximately $51,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $52,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.