Traders Purchase Large Volume of Cipher Mining Call Options (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the recipient of some unusual options trading activity on Monday. Traders acquired 22,209 call options on the stock. This is an increase of 68% compared to the average daily volume of 13,195 call options.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald lifted their target price on shares of Cipher Mining from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $8.00 target price on shares of Cipher Mining in a report on Thursday, May 8th. Needham & Company LLC cut their target price on shares of Cipher Mining from $7.50 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Rosenblatt Securities reaffirmed a "buy" rating and set a $5.50 target price on shares of Cipher Mining in a report on Wednesday, May 7th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Cipher Mining in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $7.63.

Cipher Mining Price Performance

Cipher Mining stock traded up $0.34 during trading on Thursday, reaching $4.19. The company had a trading volume of 69,221,937 shares, compared to its average volume of 13,339,900. The firm's 50-day simple moving average is $3.38 and its 200 day simple moving average is $4.11. Cipher Mining has a 1-year low of $1.86 and a 1-year high of $7.99. The firm has a market capitalization of $1.40 billion, a PE ratio of -11.64 and a beta of 2.58. 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 released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.11). Cipher Mining had a negative net margin of 81.21% and a negative return on equity of 17.77%. The firm had revenue of $48.96 million for the quarter, compared to analysts' expectations of $53.57 million. As a group, equities research analysts anticipate that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cipher Mining

A number of institutional investors have recently added to or reduced their stakes in CIFR. NewEdge Advisors LLC acquired a new stake in Cipher Mining in the 4th quarter valued at $29,000. Stoneridge Investment Partners LLC acquired a new stake in Cipher Mining during the 1st quarter worth $29,000. FNY Investment Advisers LLC boosted its stake in Cipher Mining by 42.9% during the 1st quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company's stock worth $36,000 after purchasing an additional 4,800 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in Cipher Mining during the 1st quarter worth $37,000. Finally, Rafferty Asset Management LLC acquired a new stake in Cipher Mining during the 4th quarter worth $49,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Company Profile

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.