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

Cipher Mining Inc. (NASDAQ:CIFR) was the target of unusually large options trading activity on Wednesday. Stock investors bought 66,864 call options on the stock. This is an increase of approximately 321% compared to the average volume of 15,876 call options.

Insider Transactions at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total transaction of $5,741,358.24. Following the sale, the insider now owns 107,748,228 shares in the company, valued at $325,399,648.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Top Holdco B.V. Bitfury sold 1,901,112 shares of Cipher Mining stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $5,741,358.24. Following the completion of the transaction, the insider now directly owns 107,748,228 shares of the company’s stock, valued at approximately $325,399,648.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Iwaschuk sold 150,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the sale, the insider now owns 619,148 shares in the company, valued at approximately $2,439,443.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,853,336 shares of company stock valued at $16,997,597. Insiders own 2.25% of the company’s stock.

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 company. Virtu Financial LLC acquired a new stake in shares of Cipher Mining in the fourth quarter valued at $202,000. B. Riley Wealth Advisors Inc. raised its position in Cipher Mining by 50.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after acquiring an additional 5,000 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Cipher Mining in the 4th quarter valued at about $513,000. Nomura Holdings Inc. acquired a new stake in Cipher Mining in the 4th quarter valued at about $213,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Cipher Mining during the 1st quarter valued at about $542,000. 12.26% of the stock is owned by institutional investors.

Cipher Mining Stock Performance

Shares of CIFR opened at $5.01 on Thursday. The firm has a market capitalization of $1.55 billion, a PE ratio of 83.50 and a beta of 2.25. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $3.64 and a 200 day moving average price of $4.17. Cipher Mining has a 52-week low of $2.15 and a 52-week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Cipher Mining had a net margin of 11.43% and a return on equity of 3.41%. The business had revenue of $36.81 million for the quarter, compared to analyst estimates of $39.17 million. During the same quarter last year, the business earned ($0.05) earnings per share. On average, sell-side analysts anticipate that Cipher Mining will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CIFR has been the subject of a number of recent research reports. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of Cipher Mining in a research note on Thursday, August 29th. Compass Point upped their price target on shares of Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Stifel Canada raised shares of Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Northland Securities began coverage on shares of Cipher Mining in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $6.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining has a consensus rating of “Buy” and a consensus price target of $7.21.

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.