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

Cipher Mining Inc. (NASDAQ:CIFR) saw some unusual options trading activity on Thursday. Investors acquired 24,472 call options on the stock. This represents an increase of 82% compared to the typical volume of 13,465 call options.

Wall Street Analyst Weigh In

CIFR has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of Cipher Mining in a research note on Monday, March 18th. HC Wainwright reiterated a “buy” rating and set a $4.50 price objective on shares of Cipher Mining in a research note on Tuesday, March 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a research note on Thursday, March 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price objective on shares of Cipher Mining in a research note on Thursday, March 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CIFR. Exchange Traded Concepts LLC increased its holdings in Cipher Mining by 107.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock valued at $2,862,000 after buying an additional 358,897 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Cipher Mining by 149.9% in the third quarter. Vontobel Holding Ltd. now owns 58,256 shares of the company’s stock valued at $136,000 after purchasing an additional 34,947 shares during the period. Swiss National Bank acquired a new stake in shares of Cipher Mining in the third quarter valued at about $255,000. Van ECK Associates Corp grew its position in shares of Cipher Mining by 22.3% in the third quarter. Van ECK Associates Corp now owns 1,403,549 shares of the company’s stock valued at $3,270,000 after purchasing an additional 256,097 shares during the period. Finally, Barclays PLC grew its position in shares of Cipher Mining by 93.4% in the third quarter. Barclays PLC now owns 15,982 shares of the company’s stock valued at $37,000 after purchasing an additional 7,720 shares during the period. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Cipher Mining Trading Up 4.3 %

Shares of Cipher Mining stock opened at $3.84 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60. The firm has a fifty day moving average price of $3.87 and a 200 day moving average price of $3.36. Cipher Mining has a 1 year low of $1.76 and a 1 year high of $5.75. The stock has a market cap of $1.14 billion, a PE ratio of -38.40 and a beta of 2.22.

Cipher Mining (NASDAQ:CIFR) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The firm had revenue of $43.42 million during the quarter, compared to analysts’ expectations of $35.73 million. Equities research analysts predict that Cipher Mining will post -0.15 earnings per share for the current year.

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.