Traders Buy Large Volume of Call Options on Cipher Mining (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of some unusual options trading on Wednesday. Traders acquired 92,329 call options on the stock. This is an increase of 26% compared to the average volume of 73,418 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HC Wainwright increased their price objective on Cipher Mining from $7.50 to $17.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group increased their price objective on Cipher Mining from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald increased their price objective on Cipher Mining from $4.00 to $6.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Compass Point started coverage on Cipher Mining in a research report on Monday, September 15th. They issued a “buy” rating on the stock. Finally, Arete started coverage on Cipher Mining in a research note on Wednesday, September 24th. They set a “buy” rating and a $24.00 price target for the company. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.23.

Insider Activity

In related news, major shareholder Holding Ltd V3 sold 2,000,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $12.08, for a total value of $24,160,000.00. Following the completion of the sale, the insider directly owned 67,852,537 shares of the company’s stock, valued at approximately $819,658,646.96. This represents a 2.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Arthur Kelly sold 44,870 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $10.80, for a total value of $484,596.00. Following the completion of the sale, the chief operating officer directly owned 1,044,390 shares of the company’s stock, valued at approximately $11,279,412. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,901,254 shares of company stock valued at $210,570,720. Company insiders own 2.89% of the company’s stock.

Institutional Trading of Cipher Mining

A number of institutional investors and hedge funds have recently made changes to their positions in CIFR. Stoneridge Investment Partners LLC acquired a new stake in shares of Cipher Mining in the first quarter worth about $29,000. FNY Investment Advisers LLC lifted its position in shares of Cipher Mining by 42.9% in the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company’s stock worth $36,000 after buying an additional 4,800 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Cipher Mining in the first quarter worth about $37,000. Steward Partners Investment Advisory LLC lifted its position in shares of Cipher Mining by 258.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock worth $43,000 after buying an additional 6,516 shares during the last quarter. Finally, Signal Advisors Wealth LLC acquired a new stake in shares of Cipher Mining in the second quarter worth about $48,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Trading Up 9.6%

Shares of NASDAQ:CIFR opened at $13.81 on Friday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.43 billion, a PE ratio of -32.12 and a beta of 2.87. Cipher Mining has a 1 year low of $1.86 and a 1 year high of $15.54. The firm has a fifty day moving average price of $8.25 and a 200 day moving average price of $5.28.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. The firm had revenue of $43.57 million for the quarter, compared to the consensus estimate of $51.89 million. Analysts expect that Cipher Mining will post -0.31 EPS for the current fiscal 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.