Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells $23,556.00 in Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 3,120 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $7.55, for a total value of $23,556.00. Following the completion of the sale, the insider now directly owns 97,567,437 shares of the company’s stock, valued at $736,634,149.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more 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 Thursday, November 7th, Top Holdco B.V. Bitfury sold 300,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.60, for a total value of $1,980,000.00.
• On Monday, October 28th, Top Holdco B.V. Bitfury sold 1,000,000 shares of Cipher Mining stock. The shares were sold at an average price of $6.22, for a total value of $6,220,000.00.

Cipher Mining Trading Down 0.2 %

NASDAQ CIFR opened at $5.73 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.99 billion, a P/E ratio of -44.07 and a beta of 2.29. Cipher Mining Inc. has a 52-week low of $2.15 and a 52-week high of $7.99. The firm has a 50-day moving average price of $6.09 and a 200 day moving average price of $4.88.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The business had revenue of $24.10 million for the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same quarter in the previous year, the firm posted ($0.07) EPS. Equities research analysts expect that Cipher Mining Inc. will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Amalgamated Bank boosted its position in shares of Cipher Mining by 321.8% during the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in shares of Cipher Mining in the third quarter valued at about $33,000. Xponance Inc. purchased a new stake in Cipher Mining during the second quarter worth about $45,000. W Advisors LLC acquired a new position in Cipher Mining during the third quarter worth about $45,000. Finally, Prospect Financial Services LLC acquired a new position in Cipher Mining during the third quarter worth about $47,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

CIFR has been the topic of a number of research reports. Northland Securities raised their target price on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Macquarie raised their price target on Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.50 price target on shares of Cipher Mining in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $8.03.

Cipher Mining Company Profile

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.