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

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 92,329 call options on the stock. This represents an increase of 26% compared to the average volume of 73,418 call options.

Insider Buying and Selling at Cipher Mining

In other news, major shareholder Holding Ltd V3 sold 2,000,000 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $12.08, for a total transaction of $24,160,000.00. Following the transaction, the insider directly owned 67,852,537 shares in the company, valued at $819,658,646.96. The trade was a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Arthur Kelly sold 44,870 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $10.80, for a total transaction of $484,596.00. Following the transaction, the chief operating officer owned 1,044,390 shares in the company, valued at $11,279,412. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,901,254 shares of company stock worth $210,570,720 over the last quarter. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Cipher Mining by 18.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,242,210 shares of the company’s stock valued at $34,621,000 after purchasing an additional 1,108,850 shares during the last quarter. Tidal Investments LLC lifted its stake in Cipher Mining by 28.3% in the 2nd quarter. Tidal Investments LLC now owns 6,984,438 shares of the company’s stock valued at $33,386,000 after purchasing an additional 1,541,138 shares during the last quarter. Vident Advisory LLC lifted its stake in Cipher Mining by 11.9% in the 1st quarter. Vident Advisory LLC now owns 4,753,772 shares of the company’s stock valued at $10,934,000 after purchasing an additional 503,694 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cipher Mining by 52.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,680,219 shares of the company’s stock valued at $10,765,000 after purchasing an additional 1,610,073 shares during the last quarter. Finally, Helix Partners Management LP lifted its stake in Cipher Mining by 95.8% in the 1st quarter. Helix Partners Management LP now owns 4,400,000 shares of the company’s stock valued at $10,120,000 after purchasing an additional 2,153,058 shares during the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $12.60 on Thursday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $4.96 billion, a P/E ratio of -29.30 and a beta of 2.87. Cipher Mining has a 12-month low of $1.86 and a 12-month high of $15.54. The firm has a 50-day moving average price of $8.11 and a two-hundred day moving average price of $5.21.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Compass Point assumed coverage on shares of Cipher Mining in a report on Monday, September 15th. They set a “buy” rating for the company. HC Wainwright lifted their target price on shares of Cipher Mining from $7.50 to $17.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Cipher Mining from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, September 26th. Canaccord Genuity Group lifted their target price on shares of Cipher Mining from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Monday. Finally, Rosenblatt Securities lifted their target price on shares of Cipher Mining from $9.00 to $14.00 and gave the stock a “buy” rating in a report on Monday. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.23.

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.