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

Cipher Mining Inc. (NASDAQ:CIFR) was the target of some unusual options trading activity on Monday. Traders purchased 20,294 call options on the stock. This represents an increase of 28% compared to the average daily volume of 15,812 call options.

Insider Buying and Selling at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 296,357 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $3.99, for a total transaction of $1,182,464.43. Following the completion of the sale, the insider now owns 118,223,411 shares of the company’s stock, valued at $471,711,409.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 4,692,735 shares of company stock worth $20,486,934 over the last three months. Company insiders own 2.25% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

Several large investors have recently modified their holdings of the stock. Bellecapital International Ltd. purchased a new stake in Cipher Mining during the 4th quarter valued at about $51,000. Strategic Blueprint LLC purchased a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $62,000. Cerity Partners LLC bought a new stake in shares of Cipher Mining during the fourth quarter valued at approximately $63,000. Vontobel Holding Ltd. lifted its position in Cipher Mining by 117.4% in the 4th quarter. Vontobel Holding Ltd. now owns 126,656 shares of the company’s stock valued at $523,000 after acquiring an additional 68,400 shares in the last quarter. Finally, Tyche Wealth Partners LLC purchased a new stake in Cipher Mining during the 4th quarter valued at $217,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CIFR shares. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of Cipher Mining in a research report on Friday, June 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $6.00 price target (up previously from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. HC Wainwright raised their price objective on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Cantor Fitzgerald initiated coverage on Cipher Mining in a report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.

Cipher Mining Stock Up 21.6 %

CIFR traded up $1.01 during midday trading on Monday, reaching $5.69. The company’s stock had a trading volume of 10,550,005 shares, compared to its average volume of 8,717,420. Cipher Mining has a 1 year low of $2.15 and a 1 year high of $5.89. The stock’s 50-day moving average is $4.26 and its 200-day moving average is $3.90. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 90.02 and a beta of 2.29. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.02.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.13 earnings per share for the quarter. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%. The company had revenue of $48.14 million for the quarter, compared to the consensus estimate of $50.05 million.

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.