Stock Traders Buy 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 activity on Monday. Traders bought 23,990 call options on the company. This is an increase of 80% compared to the typical daily volume of 13,317 call options.

Insider Transactions at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the completion of the sale, the insider now directly owns 99,047,588 shares of the company's stock, valued at approximately $616,075,997.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief operating officer now directly owns 717,431 shares in the company, valued at $3,135,173.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.22, for a total value of $6,220,000.00. Following the transaction, the insider now owns 99,047,588 shares of the company's stock, valued at approximately $616,075,997.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,943,078 shares of company stock valued at $23,609,769. Corporate insiders own 2.25% of the company's stock.

Institutional Investors Weigh In On Cipher Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank boosted its holdings in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company's stock valued at $25,000 after acquiring an additional 4,557 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Cipher Mining in the 3rd quarter worth approximately $33,000. Janney Montgomery Scott LLC bought a new stake in Cipher Mining during the first quarter worth approximately $52,000. Xponance Inc. acquired a new position in Cipher Mining in the second quarter worth approximately $45,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Cipher Mining in the first quarter valued at $59,000. 12.26% of the stock is currently owned by institutional investors.

Cipher Mining Stock Performance

Cipher Mining stock traded down $0.21 during midday trading on Monday, reaching $5.04. 11,305,067 shares of the stock traded hands, compared to its average volume of 9,129,594. The firm has a fifty day moving average price of $3.96 and a two-hundred day moving average price of $4.27. 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 cap of $1.69 billion, a price-to-earnings ratio of -40.00 and a beta of 2.18. The company has a current ratio of 8.49, a quick ratio of 8.49 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.26) EPS 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 8.57%. The business had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, equities research analysts forecast that Cipher Mining will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Canada raised Cipher Mining to a "strong-buy" rating in a report on Tuesday, August 6th. HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Cipher Mining in a research report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $9.00 price objective on shares of Cipher Mining in a report on Thursday, October 3rd. Macquarie initiated coverage on shares of Cipher Mining in a report on Tuesday, September 24th. They set an "outperform" rating and a $6.00 target price on the stock. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $7.00 price target on shares of Cipher Mining in a report on Friday. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Cipher Mining presently has a consensus rating of "Buy" and an average price target of $7.36.

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.