Top Holdco B.V. Bitfury Sells 300,000 Shares of Cipher Mining Inc. (NASDAQ:CIFR) Stock

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of Cipher Mining stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the completion of the transaction, the insider now directly owns 98,747,588 shares in the company, valued at $651,734,080.80. This represents 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 the SEC website. Major shareholders that own more than 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 Monday, October 28th, Top Holdco B.V. Bitfury sold 1,000,000 shares of Cipher Mining stock. The stock was sold at an average price of $6.22, for a total transaction of $6,220,000.00.
• On Monday, September 9th, Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock. The stock was sold at an average price of $2.87, for a total value of $5,456,191.44.
• 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 transaction 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 value of $5,741,358.24.

Cipher Mining Trading Down 1.1 %

NASDAQ CIFR traded down $0.08 on Tuesday, hitting $7.35. The company's stock had a trading volume of 11,077,682 shares, compared to its average volume of 9,364,495. 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 firm has a market cap of $2.56 billion, a PE ratio of -57.15 and a beta of 2.18. The company's 50-day moving average is $4.30 and its 200 day moving average is $4.37. Cipher Mining Inc. has a 1-year low of $2.15 and a 1-year high of $7.99.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly 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). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The business had revenue of $24.10 million during the quarter, compared to the consensus estimate of $25.84 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. As a group, analysts predict that Cipher Mining Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CIFR shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $9.00 price objective on shares of Cipher Mining in a research note on Thursday, October 3rd. HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Northland Capmk upgraded shares of Cipher Mining to a "strong-buy" rating in a report on Wednesday, September 25th. Stifel Canada raised shares of Cipher Mining to a "strong-buy" rating in a research report on Tuesday, August 6th. Finally, Macquarie upped their price target on Cipher Mining from $6.00 to $7.25 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cipher Mining presently has a consensus rating of "Buy" and an average target price of $7.54.

Institutional Investors Weigh In On Cipher Mining

Several institutional investors have recently added to or reduced their stakes in CIFR. Charles Schwab Investment Management Inc. boosted its position in Cipher Mining by 71.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company's stock worth $9,118,000 after purchasing an additional 977,963 shares during the period. Intech Investment Management LLC bought a new stake in Cipher Mining in the 3rd quarter valued at $133,000. Drive Wealth Management LLC acquired a new position in Cipher Mining in the 3rd quarter worth about $370,000. Victory Capital Management Inc. boosted its position in shares of Cipher Mining by 8.8% during the 3rd quarter. Victory Capital Management Inc. now owns 25,996 shares of the company's stock valued at $101,000 after purchasing an additional 2,101 shares in the last quarter. Finally, TRU Independence Asset Management 2 LLC purchased a new position in shares of Cipher Mining during the third quarter valued at approximately $132,000. Hedge funds and other institutional investors own 12.26% of the company's stock.

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.