Insider Selling: Cipher Mining Inc. (NASDAQ:CIFR) Major Shareholder Sells 3,120 Shares of 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 transaction, the insider now directly owns 97,567,437 shares in the company, valued at approximately $736,634,149.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 shares were 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 Stock Down 8.7 %

Shares of NASDAQ:CIFR opened at $5.74 on Friday. The company’s fifty day moving average is $6.06 and its two-hundred day moving average is $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 Inc. has a 1-year low of $2.15 and a 1-year high of $7.99. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -44.15 and a beta of 2.29.

Cipher Mining (NASDAQ:CIFR) last posted 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 the consensus estimate 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 period last year, the company posted ($0.07) earnings per share. Equities analysts anticipate that Cipher Mining Inc. will post -0.18 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research note on Tuesday, December 10th. Northland Securities increased their price objective on shares of Cipher Mining from $6.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. BTIG Research boosted their target price on shares of Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Macquarie raised their price target on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. Nine investment 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.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.03.

Institutional Investors Weigh In On Cipher Mining

Several large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its holdings 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 valued at $14,485,000 after acquiring an additional 1,584,874 shares during the period. Virtu Financial LLC boosted its stake in Cipher Mining by 21.2% during the 3rd quarter. Virtu Financial LLC now owns 123,437 shares of the company’s stock valued at $478,000 after purchasing an additional 21,566 shares during the period. Barclays PLC boosted its stake in Cipher Mining by 377.2% during the 3rd quarter. Barclays PLC now owns 296,493 shares of the company’s stock valued at $1,147,000 after purchasing an additional 234,366 shares during the period. Geode Capital Management LLC grew its position in Cipher Mining by 37.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after purchasing an additional 1,511,455 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Cipher Mining by 17.3% in the third quarter. State Street Corp now owns 6,919,189 shares of the company’s stock valued at $26,777,000 after purchasing an additional 1,019,949 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.

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.