Cipher Mining Sees Unusually High Options Volume (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors bought 181,680 call options on the stock. This is an increase of 765% compared to the typical volume of 21,014 call options.

Cipher Mining Trading Down 2.7%

CIFR traded down $0.18 during mid-day trading on Friday, reaching $6.47. The stock had a trading volume of 16,751,935 shares, compared to its average volume of 46,953,816. The firm's fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $4.13. The stock has a market capitalization of $2.17 billion, a P/E ratio of -17.97 and a beta of 2.72. Cipher Mining has a 52 week low of $1.86 and a 52 week high of $7.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced 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 analysts' expectations of $53.57 million. Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. On average, equities analysts predict that Cipher Mining will post -0.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CIFR shares. HC Wainwright reiterated a "buy" rating on shares of Cipher Mining in a research note on Tuesday, May 6th. Cantor Fitzgerald upped their price target on Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Canaccord Genuity Group reiterated a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a research note on Thursday, May 8th. Rosenblatt Securities restated a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, May 7th. Finally, Jones Trading upgraded shares of Cipher Mining to a "hold" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cipher Mining has a consensus rating of "Buy" and a consensus target price of $7.63.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 667,010 shares of Cipher Mining stock in a transaction on Monday, July 14th. The shares were sold at an average price of $6.11, for a total transaction of $4,075,431.10. Following the sale, the insider owned 93,667,437 shares in the company, valued at $572,308,040.07. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Holding Ltd V3 sold 500,000 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $6.55, for a total transaction of $3,275,000.00. Following the completion of the transaction, the insider owned 92,878,292 shares of the company's stock, valued at approximately $608,352,812.60. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,878,290 shares of company stock valued at $23,349,097. 2.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of CIFR. NewEdge Advisors LLC bought a new stake in shares of Cipher Mining in the 4th quarter valued at about $29,000. Signal Advisors Wealth LLC bought a new position in shares of Cipher Mining during the second quarter worth $48,000. Custos Family Office LLC acquired a new position in shares of Cipher Mining in the 2nd quarter valued at $48,000. Rafferty Asset Management LLC acquired a new stake in Cipher Mining during the 4th quarter worth $49,000. Finally, Captrust Financial Advisors bought a new position in shares of Cipher Mining during the 4th quarter valued at about $54,000. 12.26% of the stock is owned by institutional investors.

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.