Traders Purchase Large 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 Tuesday. Stock investors acquired 19,116 call options on the stock. This represents an increase of 16% compared to the average daily volume of 16,523 call options.

Hedge Funds Weigh In On Cipher Mining

Institutional investors have recently bought and sold shares of the stock. V3 Holding Ltd purchased a new stake in Cipher Mining in the fourth quarter worth about $452,713,000. Lone Pine Capital LLC purchased a new stake in Cipher Mining in the 4th quarter worth approximately $10,878,000. Helix Partners Management LP bought a new stake in Cipher Mining during the 4th quarter worth approximately $10,426,000. Driehaus Capital Management LLC purchased a new position in Cipher Mining during the fourth quarter valued at approximately $9,439,000. Finally, Tidal Investments LLC boosted its position in shares of Cipher Mining by 73.4% in the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company's stock worth $14,485,000 after purchasing an additional 1,584,874 shares during the period. 12.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CIFR has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised shares of Cipher Mining from a "neutral" rating to an "overweight" rating and set a $8.00 price objective on the stock in a research report on Tuesday, December 10th. Canaccord Genuity Group reiterated a "buy" rating and set a $8.00 price target on shares of Cipher Mining in a report on Wednesday. Cantor Fitzgerald decreased their price objective on shares of Cipher Mining from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Needham & Company LLC lowered their price objective on Cipher Mining from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Macquarie lifted their target price on Cipher Mining from $6.00 to $7.25 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cipher Mining currently has a consensus rating of "Buy" and a consensus target price of $8.31.

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Cipher Mining Stock Performance

CIFR traded up $0.11 during trading on Friday, hitting $4.08. The company's stock had a trading volume of 39,031,536 shares, compared to its average volume of 13,909,815. The business's 50 day simple moving average is $5.28 and its 200-day simple moving average is $5.03. The firm has a market cap of $1.42 billion, a PE ratio of -31.38 and a beta of 2.41. Cipher Mining has a one year low of $2.65 and a one year high of $7.99. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01.

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.