Top Holdco B.V. Bitfury Sells 3,120 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR) major shareholder Top Holdco B.V. Bitfury sold 3,120 shares of Cipher Mining stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $7.55, for a total transaction of $23,556.00. Following the completion of the transaction, the insider now directly owns 97,567,437 shares in the company, valued at $736,634,149.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 Stock Performance

Shares of Cipher Mining stock opened at $5.73 on Friday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -44.07 and a beta of 2.29. Cipher Mining Inc. has a twelve month low of $2.15 and a twelve month high of $7.99. The company’s fifty day moving average is $6.09 and its 200 day moving average is $4.88. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last announced its earnings results on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The company 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 period in the previous year, the firm posted ($0.07) earnings per share. Sell-side analysts forecast that Cipher Mining Inc. will post -0.18 EPS for the current year.

Institutional Trading of Cipher Mining

Several institutional investors have recently added to or reduced their stakes in CIFR. Millennium Management LLC raised its holdings in Cipher Mining by 122.8% during the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after purchasing an additional 2,938,184 shares during the last quarter. Tidal Investments LLC increased its position in shares of Cipher Mining by 73.4% during the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after buying an additional 1,584,874 shares during the period. Geode Capital Management LLC raised its stake in Cipher Mining by 37.8% during the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after buying an additional 1,511,455 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Cipher Mining by 41.5% in the third quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after buying an additional 1,144,390 shares during the period. Finally, Paloma Partners Management Co bought a new stake in Cipher Mining during the third quarter valued at $4,029,000. 12.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research note on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price target on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. Nine analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $8.03.

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.