Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Top Holdco B.V. Bitfury Sells 1,901,112 Shares of 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 Monday, September 9th. The shares were sold at an average price of $2.87, for a total value of $5,456,191.44. Following the transaction, the insider now owns 102,044,892 shares of the company’s stock, valued at approximately $292,868,840.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large 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 Friday, September 6th, Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock. The shares were sold at an average price of $2.74, for a total value of $5,209,046.88.
• 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 transaction of $2,007,734.50.
• On Monday, June 24th, Top Holdco B.V. Bitfury sold 443,830 shares of Cipher Mining stock. The shares were 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 stock was 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 transaction 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 Stock Up 5.4 %

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

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. During the same quarter in the previous year, the business posted ($0.05) EPS. As a group, research analysts anticipate that Cipher Mining Inc. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Cipher Mining

Several hedge funds and other institutional investors have recently bought and sold shares of CIFR. Senator Investment Group LP purchased a new stake in shares of Cipher Mining during the 2nd quarter worth $1,190,000. Algert Global LLC bought a new position in Cipher Mining in the second quarter worth about $75,000. Scientech Research LLC raised its holdings in Cipher Mining by 122.9% in the second quarter. Scientech Research LLC now owns 203,510 shares of the company’s stock worth $845,000 after purchasing an additional 112,202 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Cipher Mining by 246.2% during the second quarter. The Manufacturers Life Insurance Company now owns 67,126 shares of the company’s stock valued at $279,000 after buying an additional 47,738 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Cipher Mining by 122.8% in the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after buying an additional 2,938,184 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CIFR shares. Needham & Company LLC boosted their target price on Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Compass Point lifted their target price on Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. HC Wainwright raised their price target on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $7.42.

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.