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

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 sale, the insider now owns 97,567,437 shares of the company’s stock, valued at approximately $736,634,149.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major 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 shares were 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 value of $6,220,000.00.

Cipher Mining Stock Down 8.7 %

CIFR stock opened at $5.74 on Friday. Cipher Mining Inc. has a one year low of $2.15 and a one year high of $7.99. The stock has a market capitalization of $2.00 billion, a P/E ratio of -44.15 and a beta of 2.29. The company has a 50 day moving average price of $6.06 and a two-hundred day moving average price of $4.86. 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 (NASDAQ:CIFR) last announced 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). Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The business had revenue of $24.10 million during the quarter, compared to analysts’ expectations of $25.84 million. During the same period in the prior year, the firm earned ($0.07) EPS. As a group, sell-side analysts expect that Cipher Mining Inc. will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new stake in Cipher Mining in the third quarter valued at approximately $4,029,000. Dark Forest Capital Management LP purchased a new stake in shares of Cipher Mining during the 2nd quarter valued at $1,332,000. Bank of New York Mellon Corp increased its holdings in shares of Cipher Mining by 243.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after buying an additional 389,079 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Cipher Mining by 47.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 98,941 shares of the company’s stock worth $383,000 after buying an additional 31,815 shares during the last quarter. Finally, Duncan Williams Asset Management LLC acquired a new position in Cipher Mining in the third quarter valued at $553,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Northland Securities boosted their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. BTIG Research upped 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. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a research note on Tuesday, December 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Northland Capmk raised Cipher Mining to a “strong-buy” rating in a research report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.