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

Cipher Mining Inc. (NASDAQ:CIFR) was the target of some unusual options trading on Thursday. Traders bought 24,472 call options on the company. This represents an increase of 82% compared to the typical volume of 13,465 call options.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group restated a “buy” rating and issued a $5.50 price objective on shares of Cipher Mining in a research report on Thursday, March 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price objective on shares of Cipher Mining in a research report on Thursday, March 28th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Cipher Mining in a research report on Monday, March 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $4.50 price target on shares of Cipher Mining in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cipher Mining currently has a consensus rating of “Moderate Buy” and an average target price of $5.25.

Hedge Funds Weigh In On Cipher Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC boosted its stake in Cipher Mining by 20.1% during the fourth quarter. Gotham Asset Management LLC now owns 15,811 shares of the company’s stock worth $65,000 after buying an additional 2,649 shares during the last quarter. Rhumbline Advisers boosted its stake in Cipher Mining by 5.4% during the third quarter. Rhumbline Advisers now owns 64,313 shares of the company’s stock worth $150,000 after buying an additional 3,313 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Cipher Mining by 2.5% in the 4th quarter. Nuveen Asset Management LLC now owns 194,013 shares of the company’s stock valued at $801,000 after purchasing an additional 4,652 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Cipher Mining by 50.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after purchasing an additional 5,000 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock valued at $25,000 after purchasing an additional 5,592 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Stock Up 7.6 %

Shares of CIFR opened at $3.68 on Friday. The stock has a 50 day moving average price of $3.86 and a 200 day moving average price of $3.35. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -36.80 and a beta of 2.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.60 and a current ratio of 4.60. Cipher Mining has a one year low of $1.76 and a one year high of $5.75.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $43.42 million for the quarter, compared to analyst estimates of $35.73 million. Cipher Mining had a negative return on equity of 6.78% and a negative net margin of 20.32%. Equities research analysts forecast that Cipher Mining will post -0.15 earnings per share for the current fiscal year.

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.