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

Cipher Mining Inc. (NASDAQ:CIFR) saw unusually large options trading activity on Thursday. Investors purchased 202,482 call options on the stock. This is an increase of approximately 110% compared to the typical daily volume of 96,379 call options.

Insider Activity

In other news, major shareholder Holding Ltd V3 sold 3,504,540 shares of Cipher Mining stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $12.36, for a total value of $43,316,114.40. Following the transaction, the insider owned 71,437,719 shares of the company’s stock, valued at $882,970,206.84. The trade was a 4.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 22,585,388 shares of company stock valued at $288,102,231. Insiders own 2.63% of the company’s stock.

Institutional Trading of Cipher Mining

Institutional investors have recently made changes to their positions in the stock. Stoneridge Investment Partners LLC bought a new position in Cipher Mining during the first quarter valued at approximately $29,000. FNY Investment Advisers LLC raised its position in Cipher Mining by 42.9% during the first quarter. FNY Investment Advisers LLC now owns 16,000 shares of the company’s stock valued at $36,000 after acquiring an additional 4,800 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Cipher Mining during the first quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC raised its position in Cipher Mining by 258.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after acquiring an additional 6,516 shares in the last quarter. Finally, Signal Advisors Wealth LLC bought a new position in Cipher Mining during the second quarter valued at approximately $48,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Stock Performance

CIFR stock opened at $18.72 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.18 and a current ratio of 4.18. The stock has a market cap of $7.36 billion, a P/E ratio of -43.53 and a beta of 2.87. The firm has a 50 day simple moving average of $10.75 and a 200 day simple moving average of $6.32. Cipher Mining has a 52 week low of $1.86 and a 52 week high of $22.00.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of $43.57 million during the quarter, compared to analysts’ expectations of $51.89 million. Cipher Mining had a negative net margin of 96.95% and a negative return on equity of 21.71%. Research analysts anticipate that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on CIFR shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cipher Mining in a report on Tuesday. Compass Point started coverage on shares of Cipher Mining in a report on Monday, September 15th. They issued a “buy” rating for the company. Northland Securities set a $14.50 target price on shares of Cipher Mining in a report on Monday, September 29th. Arete started coverage on shares of Cipher Mining in a report on Wednesday, September 24th. They issued a “buy” rating and a $24.00 target price for the company. Finally, Needham & Company LLC raised their target price on shares of Cipher Mining from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Twelve 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.68.

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.