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

Key Points

• Options activity surged: Investors purchased 180,265 Cipher Mining call options, about 53% above the company’s average daily call-option volume.
• Analyst sentiment is broadly positive: Cipher Mining has a “Moderate Buy” consensus rating and an average price target of $28.61, although ratings range from “Strong Buy” to “Sell.”
• Financial results remain weak: The company reported a quarterly loss of $0.65 per share, missing estimates by $0.40, while revenue of $24.84 million fell short of expectations; insiders have also sold 131,258 shares over the past 90 days.

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 180,265 call options on the company. This represents an increase of approximately 53% compared to the average daily volume of 117,563 call options.

Insider Buying and Selling

In other news, Director Cary M. Grossman sold 15,000 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $29.43, for a total value of $441,450.00. Following the completion of the sale, the director directly owned 143,829 shares of the company's stock, valued at approximately $4,232,887.47. This represents a 9.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Newsome sold 3,758 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $26.60, for a total transaction of $99,962.80. Following the completion of the sale, the director directly owned 128,530 shares of the company's stock, valued at $3,418,898. The trade was a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 131,258 shares of company stock worth $2,925,288 in the last 90 days. Company insiders own 3.09% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CoreCap Advisors LLC boosted its position in shares of Cipher Mining by 41.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,700 shares of the company's stock worth $42,000 after purchasing an additional 500 shares in the last quarter. Abel Hall LLC increased its holdings in shares of Cipher Mining by 3.8% in the 1st quarter. Abel Hall LLC now owns 20,140 shares of the company's stock valued at $259,000 after purchasing an additional 739 shares in the last quarter. Rathbones Group PLC lifted its stake in shares of Cipher Mining by 7.0% in the first quarter. Rathbones Group PLC now owns 11,495 shares of the company's stock valued at $148,000 after purchasing an additional 750 shares during the period. CWM LLC lifted its stake in shares of Cipher Mining by 43.3% in the fourth quarter. CWM LLC now owns 2,661 shares of the company's stock valued at $39,000 after purchasing an additional 804 shares during the period. Finally, Navellier & Associates Inc. boosted its holdings in Cipher Mining by 3.7% during the second quarter. Navellier & Associates Inc. now owns 25,230 shares of the company's stock worth $618,000 after buying an additional 901 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Cipher Mining in a research report on Thursday, May 14th. They issued a "buy" rating and a $32.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $30.00 target price on shares of Cipher Mining in a research note on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of Cipher Mining in a report on Wednesday, June 24th. Morgan Stanley set a $43.50 price target on Cipher Mining in a research note on Thursday, August 6th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $32.00 price target on shares of Cipher Mining in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cipher Mining has an average rating of "Moderate Buy" and an average price target of $28.61.

Cipher Mining Stock Performance

NASDAQ:CIFR traded up $1.66 during mid-day trading on Tuesday, reaching $19.40. The stock had a trading volume of 23,658,701 shares, compared to its average volume of 28,334,084. The company has a debt-to-equity ratio of 9.69, a quick ratio of 3.00 and a current ratio of 3.00. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of -6.79 and a beta of 3.15. Cipher Mining has a twelve month low of $7.90 and a twelve month high of $30.14. The business has a 50 day simple moving average of $19.19 and a 200 day simple moving average of $19.13.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.40). The business had revenue of $24.84 million for the quarter, compared to analyst estimates of $31.86 million. Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%.During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, analysts expect that Cipher Mining will post -1.36 earnings per share for the current fiscal year.

About Cipher Mining

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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