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

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of some unusual options trading on Monday. Stock traders bought 22,209 call options on the stock. This represents an increase of approximately 68% compared to the average daily volume of 13,195 call options.

Institutional Trading of Cipher Mining

Several hedge funds have recently bought and sold shares of the stock. V3 Holding Ltd bought a new stake in Cipher Mining during the fourth quarter valued at about $452,713,000. Vanguard Group Inc. boosted its stake in shares of Cipher Mining by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 18,172,080 shares of the company’s stock worth $84,318,000 after acquiring an additional 1,189,756 shares during the period. Invesco Ltd. boosted its stake in shares of Cipher Mining by 16.7% in the fourth quarter. Invesco Ltd. now owns 6,443,723 shares of the company’s stock worth $29,899,000 after acquiring an additional 924,262 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cipher Mining by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 5,727,990 shares of the company’s stock worth $26,583,000 after acquiring an additional 218,137 shares during the period. Finally, Vident Advisory LLC boosted its stake in shares of Cipher Mining by 11.9% in the first quarter. Vident Advisory LLC now owns 4,753,772 shares of the company’s stock worth $10,934,000 after acquiring an additional 503,694 shares during the period. Institutional investors own 12.26% of the company’s stock.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $3.85 on Wednesday. The stock has a 50-day simple moving average of $3.35 and a two-hundred day simple moving average of $4.11. Cipher Mining has a 52-week low of $1.86 and a 52-week high of $7.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $1.29 billion, a PE ratio of -10.69 and a beta of 2.58.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Cipher Mining had a negative return on equity of 17.77% and a negative net margin of 81.21%. The business had revenue of $48.96 million during the quarter, compared to analyst estimates of $53.57 million. Analysts forecast that Cipher Mining will post -0.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CIFR shares. Rosenblatt Securities restated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a report on Wednesday, May 7th. HC Wainwright restated a “buy” rating on shares of Cipher Mining in a report on Tuesday, May 6th. Canaccord Genuity Group restated a “buy” rating and set a $8.00 price objective on shares of Cipher Mining in a report on Thursday, May 8th. Needham & Company LLC decreased their price objective on Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. downgraded Cipher Mining from an “overweight” rating to a “neutral” rating in a report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cipher Mining presently has an average rating of “Buy” and an average target price of $7.63.

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.