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

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) major shareholder Top Holdco B.V. Bitfury sold 3,120 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $7.55, for a total transaction of $23,556.00. Following the sale, the insider now directly owns 97,567,437 shares in the company, valued at $736,634,149.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more 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 stock was sold at an average price of $6.22, for a total transaction of $6,220,000.00.

Cipher Mining Trading Down 8.7 %

NASDAQ:CIFR traded down $0.55 during mid-day trading on Thursday, hitting $5.74. The company had a trading volume of 10,598,802 shares, compared to its average volume of 9,443,219. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining Inc. has a fifty-two week low of $2.15 and a fifty-two week high of $7.99. The firm has a market cap of $2.00 billion, a P/E ratio of -44.15 and a beta of 2.29. The business's fifty day moving average is $6.06 and its two-hundred day moving average is $4.86.

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

Hedge Funds Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank raised its stake in 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 buying an additional 4,557 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of Cipher Mining in the third quarter worth about $33,000. Xponance Inc. acquired a new stake in shares of Cipher Mining during the second quarter worth about $45,000. W Advisors LLC acquired a new stake in shares of Cipher Mining during the third quarter worth about $45,000. Finally, Prospect Financial Services LLC bought a new position in shares of Cipher Mining during the 3rd quarter valued at about $47,000. 12.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CIFR. Northland Capmk raised shares of Cipher Mining to a "strong-buy" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upgraded Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price objective on the stock in a research report on Tuesday, December 10th. BTIG Research boosted their target price on Cipher Mining from $6.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $9.00 price objective on shares of Cipher Mining in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently 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.