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

Key Points

• Unusually large options activity: Investors bought 202,715 call options (about a 92% increase vs. typical volume) as shares jumped 11.7% to $19.37 on heavy trading (35.09M shares).
• Insider selling notable: CEO Tyler Page sold 37,500 shares and a director sold 45,161, with insiders selling a total of 148,229 shares in the last 90 days while owning 2.63% of the company.
• Analyst and valuation snapshot: Cipher Mining has a "Moderate Buy" consensus (14 Buys, 2 Holds, 1 Sell) with a consensus target of $24.82; market cap is about $7.85 billion and trailing PE is negative.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors bought 202,715 call options on the stock. This is an increase of approximately 92% compared to the typical volume of 105,831 call options.

Cipher Mining Trading Up 11.7%

Shares of CIFR traded up $2.03 during mid-day trading on Friday, reaching $19.37. 35,090,440 shares of the company were exchanged, compared to its average volume of 28,501,109. Cipher Mining has a 52 week low of $2.32 and a 52 week high of $25.52. The company has a debt-to-equity ratio of 3.37, a quick ratio of 3.79 and a current ratio of 3.79. The stock has a market capitalization of $7.85 billion, a PE ratio of -8.97 and a beta of 3.01. The business has a 50 day simple moving average of $15.19 and a two-hundred day simple moving average of $16.61.

Insiders Place Their Bets

In other news, CEO Tyler Page sold 37,500 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $16.11, for a total value of $604,125.00. Following the completion of the transaction, the chief executive officer owned 8,263,862 shares of the company's stock, valued at approximately $133,130,816.82. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Newsome sold 45,161 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $15.74, for a total transaction of $710,834.14. Following the completion of the sale, the director owned 127,331 shares in the company, valued at approximately $2,004,189.94. The trade was a 26.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 148,229 shares of company stock worth $2,283,968 in the last ninety days. Insiders own 2.63% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CIFR. Los Angeles Capital Management LLC bought a new stake in Cipher Mining during the fourth quarter worth $25,000. Arax Advisory Partners boosted its position in Cipher Mining by 274.2% during the fourth quarter. Arax Advisory Partners now owns 1,826 shares of the company's stock worth $27,000 after purchasing an additional 1,338 shares during the period. GAMMA Investing LLC grew its stake in Cipher Mining by 218.3% in the 4th quarter. GAMMA Investing LLC now owns 1,875 shares of the company's stock valued at $28,000 after buying an additional 1,286 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cipher Mining in the fourth quarter valued at $28,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of Cipher Mining during the third quarter valued at about $25,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Analyst Upgrades and Downgrades

CIFR has been the topic of a number of research reports. Wall Street Zen cut shares of Cipher Mining from a "hold" rating to a "strong sell" rating in a research note on Sunday, March 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $24.00 price target on shares of Cipher Mining in a research note on Thursday, March 26th. Zacks Research raised Cipher Mining from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 25th. Keefe, Bruyette & Woods dropped their target price on Cipher Mining from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, March 11th. Finally, HC Wainwright reduced their price target on Cipher Mining to $25.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Fourteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cipher Mining has an average rating of "Moderate Buy" and a consensus target price of $24.82.

Cipher Mining Company Profile

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.

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