Investors Purchase High Volume of Cipher Mining Call Options (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of unusually large options trading activity on Monday. Traders acquired 29,134 call options on the stock. This represents an increase of 132% compared to the typical daily volume of 12,582 call options.

Insiders Place Their Bets

In other news, COO Patrick Arthur Kelly sold 89,742 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the transaction, the chief operating officer now directly owns 717,431 shares in the company, valued at $3,135,173.47. The trade was a 11.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the transaction, the insider now owns 99,047,588 shares in the company, valued at approximately $616,075,997.36. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,593,503 shares of company stock worth $9,568,005. Corporate insiders own 2.25% of the company’s stock.

Institutional Trading of Cipher Mining

A number of hedge funds and other institutional investors have recently modified their holdings of CIFR. Amalgamated Bank increased its holdings in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after purchasing an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC bought a new position in shares of Cipher Mining during the third quarter worth $33,000. Xponance Inc. bought a new position in shares of Cipher Mining during the second quarter worth $45,000. W Advisors LLC bought a new position in shares of Cipher Mining during the third quarter worth about $45,000. Finally, Prospect Financial Services LLC acquired a new stake in Cipher Mining in the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

CIFR has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a report on Tuesday, December 10th. Northland Capmk upgraded shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. BTIG Research upped their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 target price on shares of Cipher Mining in a research report on Thursday, October 3rd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research report on Friday, November 1st. Nine research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.03.

Cipher Mining Stock Down 2.2 %

Shares of CIFR opened at $7.23 on Wednesday. The company has a 50-day simple moving average of $5.97 and a 200-day simple moving average of $4.85. The firm has a market capitalization of $2.51 billion, a P/E ratio of -55.62 and a beta of 2.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. Cipher Mining has a 52 week low of $2.15 and a 52 week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). The company had revenue of $24.10 million for the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. During the same period in the prior year, the company posted ($0.07) EPS. On average, equities research analysts expect that Cipher Mining will post -0.18 earnings per share for the current year.

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.