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

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of some unusual options trading activity on Monday. Investors purchased 29,134 call options on the stock. This represents an increase of 132% compared to the average daily volume of 12,582 call options.

Cipher Mining Stock Performance

NASDAQ CIFR opened at $7.23 on Wednesday. Cipher Mining has a 52-week low of $2.15 and a 52-week high of $7.99. The company has a 50-day simple moving average of $5.97 and a 200 day simple moving average of $4.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57. The company has a market capitalization of $2.51 billion, a PE ratio of -55.62 and a beta of 2.29.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. The company had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $25.84 million. During the same quarter last year, the business posted ($0.07) EPS. On average, research analysts predict that Cipher Mining will post -0.18 EPS for the current year.

Analyst Ratings Changes

CIFR has been the topic of a number of recent research reports. Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Cipher Mining in a research note on Thursday, October 3rd. BTIG Research raised their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research note on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Cipher Mining in a report on Friday, November 1st. Nine analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Buy” and an average price target of $8.03.

Insider Buying and Selling at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 89,742 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the transaction, the chief operating officer now directly owns 717,431 shares of the company’s stock, valued at $3,135,173.47. This represents a 11.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Iwaschuk sold 150,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the transaction, the insider now directly owns 619,148 shares in the company, valued at approximately $2,439,443.12. This represents a 19.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,593,503 shares of company stock worth $9,568,005. 2.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cipher Mining

Several large investors have recently modified their holdings of CIFR. Amalgamated Bank increased its stake in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after purchasing an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of Cipher Mining in the third quarter worth about $33,000. Xponance Inc. purchased a new position in shares of Cipher Mining in the second quarter worth about $45,000. W Advisors LLC purchased a new position in shares of Cipher Mining in the third quarter worth about $45,000. Finally, Prospect Financial Services LLC bought a new position in shares of Cipher Mining in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

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.