Cipher Mining Target of Unusually Large Options Trading (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) saw some unusual options trading activity on Tuesday. Traders acquired 22,375 call options on the company. This is an increase of 47% compared to the typical volume of 15,201 call options.

Analyst Upgrades and Downgrades

CIFR has been the topic of a number of recent research reports. Compass Point raised their price target on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Northland Securities began coverage on shares of Cipher Mining in a report on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 target price on the stock. Stifel Canada raised Cipher Mining to a “strong-buy” rating in a report on Tuesday, August 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a report on Thursday, August 29th. Finally, Macquarie initiated coverage on Cipher Mining in a research report on Tuesday, September 24th. They set an “outperform” rating and a $6.00 price objective for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $7.21.

Insider Buying and Selling at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total value of $5,741,358.24. Following the completion of the transaction, the insider now owns 107,748,228 shares of the company’s stock, valued at $325,399,648.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $5,741,358.24. Following the completion of the sale, the insider now owns 107,748,228 shares of the company’s stock, valued at approximately $325,399,648.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Iwaschuk sold 150,000 shares of Cipher Mining stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total value of $591,000.00. Following the completion of the transaction, the insider now owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The disclosure for this sale can be found here. Insiders sold a total of 6,462,980 shares of company stock valued at $20,795,679 in the last ninety days. Insiders own 2.25% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds have recently modified their holdings of CIFR. Amalgamated Bank boosted its stake in Cipher Mining by 321.8% during the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after buying an additional 4,557 shares in the last quarter. Xponance Inc. bought a new position in shares of Cipher Mining during the 2nd quarter valued at about $45,000. Janney Montgomery Scott LLC acquired a new position in shares of Cipher Mining in the 1st quarter worth approximately $52,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Cipher Mining in the 1st quarter worth approximately $59,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Cipher Mining by 50.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 5,000 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Price Performance

Shares of CIFR opened at $3.85 on Thursday. Cipher Mining has a one year low of $2.15 and a one year high of $7.99. The stock’s fifty day moving average is $3.83 and its 200-day moving average is $4.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.49 and a current ratio of 8.49. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 64.17 and a beta of 2.24.

Cipher Mining (NASDAQ:CIFR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The company had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. During the same period in the prior year, the business posted ($0.05) EPS. Equities analysts anticipate that Cipher Mining will post -0.05 EPS for the current year.

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.