Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 29,896 call options on the stock. This is an increase of 70% compared to the average volume of 17,558 call options.
Insiders Place Their Bets
In related news, major shareholder Top Holdco B.V. Bitfury sold 500,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $2,430,000.00. Following the sale, the insider owned 97,067,437 shares of the company's stock, valued at $471,747,743.82. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.89% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in shares of Cipher Mining by 2.3% during the first quarter. Rhumbline Advisers now owns 276,376 shares of the company's stock worth $636,000 after acquiring an additional 6,270 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Cipher Mining by 52.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company's stock worth $10,765,000 after acquiring an additional 1,610,073 shares during the last quarter. Millennium Management LLC purchased a new stake in Cipher Mining in the 1st quarter worth approximately $9,316,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cipher Mining by 14.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,046,843 shares of the company's stock valued at $4,708,000 after acquiring an additional 265,368 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Cipher Mining during the first quarter valued at about $7,094,000. Institutional investors own 12.26% of the company's stock.
Cipher Mining Price Performance
Shares of NASDAQ CIFR traded up $0.36 during mid-day trading on Tuesday, hitting $6.15. 31,008,417 shares of the stock traded hands, compared to its average volume of 19,297,051. The company has a market cap of $2.06 billion, a PE ratio of -17.08 and a beta of 2.72. Cipher Mining has a twelve month low of $1.86 and a twelve month high of $7.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $3.78 and a two-hundred day simple moving average of $4.01.
Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $48.96 million during the quarter, compared to analyst estimates of $53.57 million. Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. As a group, equities research analysts forecast that Cipher Mining will post -0.31 EPS for the current fiscal year.
Analysts Set New Price Targets
CIFR has been the topic of several recent research reports. JPMorgan Chase & Co. lowered shares of Cipher Mining from an "overweight" rating to a "neutral" rating in a research report on Thursday, March 13th. HC Wainwright restated a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $5.50 price objective on shares of Cipher Mining in a report on Wednesday, May 7th. Cantor Fitzgerald increased their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $7.63.
View Our Latest Stock Analysis on CIFR
About Cipher Mining
(
Get Free Report)
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.
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