Cipher Mining Inc. (NASDAQ:CIFR) Short Interest Update

Cipher Mining Inc. (NASDAQ:CIFR) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 22,680,000 shares, an increase of 14.7% from the December 15th total of 19,770,000 shares. Based on an average trading volume of 10,470,000 shares, the days-to-cover ratio is currently 2.2 days. Approximately 9.5% of the shares of the stock are short sold.

Cipher Mining Trading Up 4.4 %

Cipher Mining stock traded up $0.23 during midday trading on Friday, hitting $5.43. 8,558,961 shares of the stock were exchanged, compared to its average volume of 8,581,191. The stock’s 50-day simple moving average is $5.98 and its 200 day simple moving average is $4.97. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -41.77 and a beta of 2.38. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining has a fifty-two week low of $2.15 and a fifty-two week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last released 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 business had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same quarter in the prior year, the company posted ($0.07) earnings per share. On average, equities analysts anticipate that Cipher Mining will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. Northland Securities lifted their price target on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a research note on Friday, November 1st. 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 report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 target price on shares of Cipher Mining in a report on Friday, November 1st. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.25.

Insider Transactions at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 53,161 shares of Cipher Mining stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.16, for a total value of $380,632.76. Following the sale, the chief operating officer now owns 664,270 shares of the company’s stock, valued at approximately $4,756,173.20. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the completion of the sale, the insider now directly owns 98,747,588 shares of the company’s stock, valued at approximately $651,734,080.80. The trade was a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,356,881 shares of company stock valued at $8,608,389 in the last ninety days. 2.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Cipher Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIFR. Rhumbline Advisers grew its stake in shares of Cipher Mining by 253.7% in the second quarter. Rhumbline Advisers now owns 226,905 shares of the company’s stock valued at $942,000 after buying an additional 162,749 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Cipher Mining by 21.7% during the 2nd quarter. Victory Capital Management Inc. now owns 23,895 shares of the company’s stock valued at $99,000 after acquiring an additional 4,256 shares during the period. Arizona State Retirement System grew its position in Cipher Mining by 184.6% in the 2nd quarter. Arizona State Retirement System now owns 49,802 shares of the company’s stock valued at $207,000 after acquiring an additional 32,305 shares in the last quarter. American Century Companies Inc. increased its stake in Cipher Mining by 129.4% during the second quarter. American Century Companies Inc. now owns 176,783 shares of the company’s stock worth $734,000 after purchasing an additional 99,736 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Cipher Mining during the second quarter worth about $2,142,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.