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

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BTIG Research boosted their price objective on shares of Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods initiated coverage on shares of Cipher Mining in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $7.50 price objective on shares of Cipher Mining in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a report on Friday, November 1st. Finally, Macquarie lifted their target price on shares of Cipher Mining from $6.00 to $7.25 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining presently has a consensus rating of “Buy” and a consensus price target of $8.25.

Cipher Mining Price Performance

Shares of NASDAQ CIFR traded up $1.03 during mid-day trading on Friday, reaching $5.73. The company had a trading volume of 43,060,805 shares, compared to its average volume of 9,633,732. Cipher Mining has a one year low of $2.40 and a one year high of $7.99. The business’s 50-day simple moving average is $5.69 and its 200 day simple moving average is $5.00. 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 firm has a market cap of $1.99 billion, a price-to-earnings ratio of -44.07 and a beta of 2.38.

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

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $6.60, for a total value of $1,980,000.00. Following the completion of the transaction, the insider now directly owns 98,747,588 shares of the company’s stock, valued at approximately $651,734,080.80. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Arthur Kelly sold 53,161 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $7.16, for a total transaction of $380,632.76. Following the sale, the chief operating officer now owns 664,270 shares in the company, valued at $4,756,173.20. This trade represents a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 356,881 shares of company stock worth $2,388,389. Insiders own 2.25% of the company’s stock.

Hedge Funds Weigh In On Cipher Mining

A number of institutional investors have recently added to or reduced their stakes in CIFR. Nisa Investment Advisors LLC boosted its stake in shares of Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after purchasing an additional 5,432 shares in the last quarter. Farther Finance Advisors LLC bought a new position in Cipher Mining during the 3rd quarter worth approximately $33,000. Xponance Inc. acquired a new stake in shares of Cipher Mining during the second quarter worth $45,000. W Advisors LLC acquired a new stake in shares of Cipher Mining during the third quarter worth $45,000. Finally, KBC Group NV bought a new position in shares of Cipher Mining in the 4th quarter worth about $46,000. 12.26% of the stock is currently 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.