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

Cipher Mining Inc. (NASDAQ:CIFR) was the target of some unusual options trading activity on Thursday. Investors bought 44,448 call options on the company. Thisisanincreaseof47% compared to the typical volume of 30,316 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CIFR shares. Jones Trading started coverage on shares of Cipher Mining in a research note on Monday, July 21st. They set a “hold” rating on the stock. Cantor Fitzgerald boosted their price target on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price target on shares of Cipher Mining in a research note on Wednesday, May 7th. Macquarie upped their target price on shares of Cipher Mining from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, HC Wainwright restated a “buy” rating on shares of Cipher Mining in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.70.

Insider Transactions at Cipher Mining

In other news, major shareholder Holding Ltd V3 sold 369,984 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $5.61, for a total transaction of $2,075,610.24. Following the transaction, the insider directly owned 90,942,259 shares in the company, valued at $510,186,072.99. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $6.06, for a total transaction of $1,752,218.70. Following the transaction, the insider owned 93,378,292 shares in the company, valued at approximately $565,872,449.52. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,314,323 shares of company stock valued at $32,144,964 over the last ninety days. Corporate insiders own 2.89% of the company’s stock.

Institutional Trading of Cipher Mining

Several large investors have recently modified their holdings of the business. Lighthouse Investment Partners LLC acquired a new stake in Cipher Mining during the second quarter worth approximately $1,769,000. Soros Fund Management LLC boosted its position in Cipher Mining by 67.5% during the second quarter. Soros Fund Management LLC now owns 1,300,000 shares of the company’s stock worth $6,214,000 after acquiring an additional 524,044 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cipher Mining by 36.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,794,160 shares of the company’s stock worth $13,356,000 after acquiring an additional 747,317 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Cipher Mining by 21.7% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 438,917 shares of the company’s stock worth $2,098,000 after acquiring an additional 78,313 shares during the last quarter. Finally, Northern Right Capital Management L.P. acquired a new stake in Cipher Mining during the second quarter worth approximately $846,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Trading Up 8.6%

Shares of CIFR opened at $5.32 on Friday. The firm’s 50-day moving average is $5.13 and its two-hundred day moving average is $4.13. The firm has a market capitalization of $2.09 billion, a P/E ratio of -12.37 and a beta of 2.73. Cipher Mining has a twelve month low of $1.86 and a twelve month high of $7.77. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $43.57 million for the quarter, compared to analyst estimates of $51.89 million. Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. On average, research analysts predict that Cipher Mining will post -0.31 earnings per share for the current fiscal 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.