Cipher Mining Inc. (NASDAQ:CIFR) Short Interest Down 5.5% in November

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 22,680,000 shares, a drop of 5.5% from the November 15th total of 24,010,000 shares. Approximately 9.7% of the company's stock are sold short. Based on an average daily trading volume, of 10,680,000 shares, the short-interest ratio is presently 2.1 days.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, COO Patrick Arthur Kelly sold 89,742 shares of Cipher Mining stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $4.37, for a total transaction of $392,172.54. Following the transaction, the chief operating officer now owns 717,431 shares of the company's stock, valued at $3,135,173.47. The trade was a 11.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William Iwaschuk sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total transaction of $591,000.00. Following the transaction, the insider now owns 619,148 shares in the company, valued at approximately $2,439,443.12. This trade represents a 19.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,593,503 shares of company stock valued at $9,568,005 in the last 90 days. Company insiders own 2.25% of the company's stock.

Institutional Trading of Cipher Mining

Several large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in Cipher Mining by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 25,996 shares of the company's stock worth $101,000 after buying an additional 2,101 shares during the period. Vima LLC raised its stake in Cipher Mining by 11.3% during the 3rd quarter. Vima LLC now owns 24,656 shares of the company's stock valued at $95,000 after purchasing an additional 2,504 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Cipher Mining by 30.7% in the 3rd quarter. Verition Fund Management LLC now owns 13,130 shares of the company's stock valued at $51,000 after purchasing an additional 3,086 shares during the period. Amalgamated Bank grew its position in Cipher Mining by 321.8% in the 2nd quarter. Amalgamated Bank now owns 5,973 shares of the company's stock worth $25,000 after purchasing an additional 4,557 shares during the last quarter. Finally, Strategic Blueprint LLC increased its holdings in shares of Cipher Mining by 33.3% during the 3rd quarter. Strategic Blueprint LLC now owns 20,000 shares of the company's stock worth $77,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 12.26% of the company's stock.

Cipher Mining Stock Performance

CIFR traded down $0.16 during trading hours on Tuesday, hitting $7.23. The company's stock had a trading volume of 12,535,681 shares, compared to its average volume of 9,422,652. Cipher Mining has a fifty-two week low of $2.15 and a fifty-two week high of $7.99. The firm has a market capitalization of $2.51 billion, a PE ratio of -55.62 and a beta of 2.29. The company has a 50-day simple moving average of $5.91 and a 200 day simple moving average of $4.82. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.18). Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The business had revenue of $24.10 million for the quarter, compared to the consensus estimate of $25.84 million. During the same period in the previous year, the business posted ($0.07) EPS. As a group, sell-side analysts expect that Cipher Mining will post -0.18 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CIFR. BTIG Research raised 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. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price objective for the company in a research note on Tuesday, December 10th. Canaccord Genuity Group reiterated a "buy" rating and issued a $7.00 price target on shares of Cipher Mining in a research note on Friday, November 1st. Finally, Macquarie lifted their price target on Cipher Mining from $6.00 to $7.25 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Nine investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $8.03.

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.