Traders Purchase High Volume of Cipher Mining Call Options (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the recipient of some unusual options trading on Monday. Investors bought 29,134 call options on the company. This is an increase of 132% compared to the average volume of 12,582 call options.

Insider Activity

In other news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the completion of the sale, the insider now owns 98,747,588 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, COO Patrick Arthur Kelly sold 89,742 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total value of $392,172.54. Following the sale, the chief operating officer now owns 717,431 shares of the company's stock, valued at approximately $3,135,173.47. This represents a 11.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,593,503 shares of company stock valued at $9,568,005. 2.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Cipher Mining

A number of institutional investors have recently made changes to their positions in the stock. Paloma Partners Management Co bought a new stake in Cipher Mining during the 3rd quarter worth approximately $4,029,000. Dark Forest Capital Management LP bought a new stake in Cipher Mining during the 2nd quarter worth approximately $1,332,000. Bank of New York Mellon Corp raised its stake in Cipher Mining by 243.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company's stock worth $2,279,000 after acquiring an additional 389,079 shares during the period. Duncan Williams Asset Management LLC bought a new stake in shares of Cipher Mining during the third quarter valued at approximately $553,000. Finally, California State Teachers Retirement System raised its position in shares of Cipher Mining by 19.4% during the first quarter. California State Teachers Retirement System now owns 61,546 shares of the company's stock valued at $317,000 after buying an additional 10,019 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

Cipher Mining Price Performance

CIFR stock traded up $1.26 during midday trading on Monday, reaching $7.39. The company had a trading volume of 22,891,475 shares, compared to its average volume of 9,408,806. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.57 and a quick ratio of 2.57. Cipher Mining has a 1 year low of $2.15 and a 1 year high of $7.99. The company has a market capitalization of $2.57 billion, a P/E ratio of -51.00 and a beta of 2.29. The firm has a 50-day moving average price of $5.84 and a 200-day moving average price of $4.80.

Cipher Mining (NASDAQ:CIFR - Get Free Report) 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 return on equity of 8.29% and a negative net margin of 33.39%. During the same quarter in the previous year, the business earned ($0.07) earnings per share. On average, research analysts anticipate that Cipher Mining will post -0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $7.50 price target on shares of Cipher Mining in a report on Friday, November 1st. Canaccord Genuity Group reiterated a "buy" rating and set a $7.00 price target on shares of Cipher Mining in a report on Friday, November 1st. Northland Capmk raised Cipher Mining to a "strong-buy" rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $9.00 price objective on shares of Cipher Mining in a research report on Thursday, October 3rd. Finally, Macquarie upped their price objective on shares of Cipher Mining from $6.00 to $7.25 and gave the company an "outperform" rating in a report on Thursday, November 7th. Nine analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $8.03.

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.