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 the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $7.55, for a total transaction of $23,556.00. Following the completion of the sale, the insider now owns 97,567,437 shares of the company’s stock, valued at $736,634,149.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock 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 transaction 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 Price Performance

Shares of CIFR traded down $0.55 during mid-day trading on Thursday, reaching $5.74. 10,382,754 shares of the company’s stock were exchanged, compared to its average volume of 9,436,491. 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 Inc. has a 52-week low of $2.15 and a 52-week high of $7.99. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -44.15 and a beta of 2.29. The company has a 50-day simple moving average of $6.02 and a two-hundred day simple moving average of $4.86.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). The company had revenue of $24.10 million for the quarter, compared to analysts’ expectations 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 prior year, the business posted ($0.07) EPS. On average, sell-side analysts predict that Cipher Mining Inc. will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CIFR. Amalgamated Bank grew its position in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after purchasing an additional 4,557 shares during the period. Farther Finance Advisors LLC purchased a new stake in Cipher Mining in the 3rd quarter valued at about $33,000. Xponance Inc. acquired a new position in shares of Cipher Mining during the 2nd quarter valued at about $45,000. W Advisors LLC purchased a new position in shares of Cipher Mining during the 3rd quarter worth about $45,000. Finally, Prospect Financial Services LLC acquired a new stake in shares of Cipher Mining in the third quarter worth approximately $47,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CIFR shares. Northland Securities raised their price target on Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Thursday, October 3rd. BTIG Research increased their price target on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.50 target price on shares of Cipher Mining in a report on Friday, November 1st. Nine research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cipher Mining currently has a consensus rating of “Buy” and a consensus target price 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.