Cipher Mining Inc. (NASDAQ:CIFR) Short Interest Update

Cipher Mining Inc. (NASDAQ:CIFR) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 22,680,000 shares, a growth of 14.7% from the December 15th total of 19,770,000 shares. Approximately 9.5% of the shares of the company are short sold. Based on an average daily volume of 10,470,000 shares, the days-to-cover ratio is presently 2.2 days.

Cipher Mining Price Performance

Shares of CIFR stock traded up $0.23 on Friday, reaching $5.43. 8,558,961 shares of the company were exchanged, compared to its average volume of 8,581,191. Cipher Mining has a 1 year low of $2.15 and a 1 year high of $7.99. 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 business has a 50-day moving average price of $5.98 and a 200 day moving average price of $4.97. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -41.77 and a beta of 2.38.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same quarter last year, the firm posted ($0.07) earnings per share. Equities research analysts forecast that Cipher Mining will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CIFR shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a report on Tuesday, December 10th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Cipher Mining in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.50 price target on shares of Cipher Mining in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $8.25.

Insider Buying and Selling at Cipher Mining

In related news, COO Patrick Arthur Kelly sold 53,161 shares of Cipher Mining stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $7.16, for a total transaction of $380,632.76. Following the completion of the sale, the chief operating officer now owns 664,270 shares of the company’s stock, valued at $4,756,173.20. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.22, for a total value of $6,220,000.00. Following the completion of the sale, the insider now owns 99,047,588 shares in the company, valued at approximately $616,075,997.36. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,356,881 shares of company stock worth $8,608,389. 2.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CIFR. State Street Corp grew its holdings in shares of Cipher Mining by 17.3% during the third quarter. State Street Corp now owns 6,919,189 shares of the company’s stock worth $26,777,000 after buying an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cipher Mining by 37.8% in the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after buying an additional 1,511,455 shares in the last quarter. Millennium Management LLC boosted its position in Cipher Mining by 122.8% during the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after acquiring an additional 2,938,184 shares during the last quarter. Van ECK Associates Corp grew its stake in Cipher Mining by 41.5% during the 3rd quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after acquiring an additional 1,144,390 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Cipher Mining by 73.4% in the 3rd quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock valued at $14,485,000 after acquiring an additional 1,584,874 shares during the last quarter. 12.26% of the stock is owned by institutional investors and hedge funds.

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.