Top Holdco B.V. Bitfury Sells 1,901,112 Shares of Cipher Mining Inc. (NASDAQ:CIFR) 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 that occurred on Friday, September 6th. The shares were sold at an average price of $2.74, for a total value of $5,209,046.88. Following the completion of the transaction, the insider now directly owns 103,946,004 shares in the company, valued at $284,812,050.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 Monday, September 9th, Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock. The shares were sold at an average price of $2.87, for a total value of $5,456,191.44.
• 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 transaction 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 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 stock was 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.

Cipher Mining Trading Up 5.4 %

Shares of CIFR opened at $3.11 on Wednesday. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01. The stock has a market cap of $964.19 million, a PE ratio of 51.83 and a beta of 2.25. Cipher Mining Inc. has a 1 year low of $2.15 and a 1 year high of $7.99. The stock has a 50 day simple moving average of $4.44 and a 200-day simple moving average of $4.21.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $36.81 million for the quarter, compared to analysts’ expectations of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, sell-side analysts predict that Cipher Mining Inc. will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds have recently made changes to their positions in CIFR. First Financial Bankshares Inc bought a new stake in Cipher Mining during the fourth quarter worth about $9,901,000. Vanguard Group Inc. boosted its holdings in shares of Cipher Mining by 62.0% in the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after acquiring an additional 2,164,383 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Cipher Mining by 38.9% in the first quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock valued at $14,079,000 after buying an additional 765,238 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Cipher Mining by 30.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 47,148 shares of the company’s stock valued at $185,000 after buying an additional 10,998 shares during the period. Finally, Swiss National Bank raised its position in 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 purchasing an additional 26,700 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price objective on shares of Cipher Mining in a report on Tuesday, September 3rd. Needham & Company LLC raised their price objective on Cipher Mining from $5.00 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a report on Thursday, August 29th. Stifel Canada upgraded Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Compass Point lifted their price target on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cipher Mining has an average rating of “Buy” and an average price target of $7.42.

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.