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

Cipher Mining Inc. (NASDAQ:CIFR) saw unusually large options trading activity on Thursday. Stock traders purchased 44,448 call options on the stock. Thisisanincreaseof47% compared to the average daily volume of 30,316 call options.

Cipher Mining Trading Down 2.1%

Cipher Mining stock opened at $5.21 on Friday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.23. Cipher Mining has a 52 week low of $1.86 and a 52 week high of $7.77. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -12.12 and a beta of 2.73. The stock has a 50-day moving average price of $5.16 and a 200 day moving average price of $4.14.

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

Insider Activity at Cipher Mining

In other Cipher Mining news, major shareholder Holding Ltd V3 sold 369,984 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $5.61, for a total value of $2,075,610.24. Following the completion of the transaction, the insider directly owned 90,942,259 shares in the company, valued at $510,186,072.99. This represents a 0.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 289,145 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $6.06, for a total value of $1,752,218.70. Following the completion of the transaction, the insider owned 93,378,292 shares of the company’s stock, valued at $565,872,449.52. The trade was a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,314,323 shares of company stock valued at $32,144,964 over the last three months. 2.89% of the stock is currently owned by insiders.

Institutional Trading of Cipher Mining

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new stake in shares of Cipher Mining in the fourth quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC increased its position in shares of Cipher Mining by 258.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 9,041 shares of the company’s stock valued at $43,000 after buying an additional 6,516 shares in the last quarter. Signal Advisors Wealth LLC purchased a new stake in shares of Cipher Mining in the second quarter valued at approximately $48,000. Custos Family Office LLC purchased a new stake in shares of Cipher Mining in the second quarter valued at approximately $48,000. Finally, Maripau Wealth Management LLC acquired a new stake in shares of Cipher Mining in the second quarter worth approximately $48,000. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cantor Fitzgerald increased their price target on Cipher Mining from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. HC Wainwright restated a “buy” rating on shares of Cipher Mining in a report on Tuesday, May 6th. Canaccord Genuity Group restated a “buy” rating and set a $8.00 price target on shares of Cipher Mining in a report on Thursday, May 8th. Jones Trading assumed coverage on Cipher Mining in a report on Monday, July 21st. They set a “hold” rating on the stock. Finally, Macquarie increased their price target on Cipher Mining from $6.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cipher Mining has an average rating of “Moderate Buy” and an average price target of $7.56.

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.