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

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the target of unusually large options trading activity on Thursday. Stock investors acquired 24,472 call options on the company. This is an increase of 82% compared to the typical volume of 13,465 call options.

Cipher Mining Trading Up 7.6 %

Shares of NASDAQ CIFR traded up $0.26 during trading on Thursday, hitting $3.68. 5,560,610 shares of the company traded hands, compared to its average volume of 8,837,585. Cipher Mining has a 1 year low of $1.76 and a 1 year high of $5.75. The company has a 50-day moving average price of $3.84 and a 200-day moving average price of $3.35. The firm has a market capitalization of $1.09 billion, a P/E ratio of -38.10 and a beta of 2.22. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The company had revenue of $43.42 million during the quarter, compared to analysts' expectations of $35.73 million. On average, equities analysts predict that Cipher Mining will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently made changes to their positions in CIFR. First Financial Bankshares Inc acquired a new position in shares of Cipher Mining during the 4th quarter valued at $9,901,000. State Street Corp lifted its holdings in shares of Cipher Mining by 208.0% during the 2nd quarter. State Street Corp now owns 2,197,387 shares of the company's stock valued at $6,285,000 after acquiring an additional 1,483,836 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cipher Mining by 103.8% during the 1st quarter. Vanguard Group Inc. now owns 1,893,078 shares of the company's stock valued at $6,891,000 after acquiring an additional 964,326 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Cipher Mining by 1,738.2% during the 4th quarter. Renaissance Technologies LLC now owns 645,200 shares of the company's stock valued at $361,000 after acquiring an additional 610,100 shares in the last quarter. Finally, Shariaportfolio Inc. acquired a new position in shares of Cipher Mining during the 4th quarter valued at $2,460,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.00 target price on shares of Cipher Mining in a research note on Monday, March 18th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $5.50 target price on shares of Cipher Mining in a research note on Thursday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $5.00 target price on shares of Cipher Mining in a research note on Thursday, March 28th. Finally, HC Wainwright reissued a "buy" rating and set a $4.50 price objective on shares of Cipher Mining in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $5.25.

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.