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

Cipher Mining Inc. (NASDAQ:CIFR) saw some unusual options trading on Wednesday. Stock traders acquired 167,723 call options on the stock. This is an increase of 49% compared to the typical volume of 112,681 call options.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Sanford C. Bernstein began coverage on Cipher Mining in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $32.00 price objective on the stock. BTIG Research boosted their target price on Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Rosenblatt Securities restated a “buy” rating and set a $30.00 price target on shares of Cipher Mining in a report on Wednesday, August 5th. Morgan Stanley set a $43.50 price objective on Cipher Mining in a research note on Thursday, August 6th. Finally, Chardan Capital reissued a “buy” rating and set a $32.00 price objective on shares of Cipher Mining in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cipher Mining has an average rating of “Moderate Buy” and a consensus price target of $28.61.

Insider Activity at Cipher Mining

In other news, Director Cary M. Grossman sold 15,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $29.43, for a total transaction of $441,450.00. Following the sale, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Newsome sold 3,758 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 128,530 shares of the company’s stock, valued at approximately $3,418,898. The trade was a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,145,825 shares of company stock valued at $81,741,167. 3.09% of the stock is owned by company insiders.

Institutional Trading of Cipher Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new position in shares of Cipher Mining in the fourth quarter valued at approximately $25,000. Arax Advisory Partners grew its position in Cipher Mining by 274.2% in the 4th quarter. Arax Advisory Partners now owns 1,826 shares of the company’s stock valued at $27,000 after buying an additional 1,338 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Cipher Mining in the 4th quarter valued at $28,000. Danske Bank A S increased its stake in Cipher Mining by 1,150.0% in the 4th quarter. Danske Bank A S now owns 2,500 shares of the company’s stock valued at $37,000 after buying an additional 2,300 shares during the period. Finally, CWM LLC raised its position in Cipher Mining by 43.3% during the 4th quarter. CWM LLC now owns 2,661 shares of the company’s stock worth $39,000 after buying an additional 804 shares during the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Cipher Mining Stock Down 1.3%

NASDAQ CIFR traded down $0.21 during trading on Wednesday, reaching $15.88. 44,117,010 shares of the company’s stock were exchanged, compared to its average volume of 28,190,287. The stock has a market cap of $6.59 billion, a P/E ratio of -5.55 and a beta of 3.20. 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 company has a 50 day moving average price of $21.92 and a two-hundred day moving average price of $19.10. Cipher Mining has a 1 year low of $5.32 and a 1 year high of $30.14.

Cipher Mining (NASDAQ:CIFR) last posted its earnings results on Tuesday, August 4th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.40). Cipher Mining had a negative net margin of 585.75% and a negative return on equity of 156.28%. The company had revenue of $24.84 million during the quarter, compared to analysts’ expectations of $31.86 million. During the same period last year, the business earned ($0.12) earnings per share. On average, equities research analysts anticipate that Cipher Mining will post -1.37 EPS 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.