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

Cipher Mining Inc. (NASDAQ:CIFR - Get Free Report) was the target of unusually large options trading on Wednesday. Investors acquired 36,320 call options on the stock. This is an increase of 115% compared to the typical volume of 16,913 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald dropped their price target on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. HC Wainwright reaffirmed a "buy" rating and set a $8.00 price objective on shares of Cipher Mining in a report on Wednesday, February 26th. Northland Securities boosted their target price on shares of Cipher Mining from $6.00 to $8.50 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. BTIG Research raised their price target on shares of Cipher Mining from $6.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. upgraded Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price objective on the stock in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $8.13.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds and other institutional investors have recently made changes to their positions in CIFR. Nisa Investment Advisors LLC boosted its stake in Cipher Mining by 912.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company's stock worth $28,000 after buying an additional 5,432 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Cipher Mining during the 4th quarter worth $29,000. Farther Finance Advisors LLC acquired a new position in shares of Cipher Mining during the 3rd quarter valued at about $33,000. KBC Group NV purchased a new stake in shares of Cipher Mining in the fourth quarter valued at about $46,000. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Cipher Mining in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 12.26% of the company's stock.

Cipher Mining Stock Up 3.2 %

CIFR stock opened at $3.18 on Wednesday. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $5.08 and a two-hundred day moving average of $5.04. Cipher Mining has a 12 month low of $2.65 and a 12 month high of $7.99. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -24.46 and a beta of 2.47.

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.

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