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

Cipher Mining Inc. (NASDAQ:CIFR) was the target of unusually large options trading activity on Thursday. Traders bought 24,472 call options on the stock. This represents an increase of 82% compared to the typical daily volume of 13,465 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Cipher Mining by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 3,492,636 shares of the company’s stock valued at $14,425,000 after acquiring an additional 177,676 shares during the period. BlackRock Inc. increased its stake in Cipher Mining by 18.5% during the 2nd quarter. BlackRock Inc. now owns 2,433,554 shares of the company’s stock valued at $6,960,000 after purchasing an additional 379,931 shares in the last quarter. First Financial Bankshares Inc bought a new stake in Cipher Mining during the 4th quarter valued at $9,901,000. State Street Corp increased its stake in Cipher Mining by 208.0% during the 2nd quarter. State Street Corp now owns 2,197,387 shares of the company’s stock valued at $6,285,000 after purchasing an additional 1,483,836 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Cipher Mining by 40.3% during the 4th quarter. Van ECK Associates Corp now owns 1,968,505 shares of the company’s stock valued at $8,130,000 after purchasing an additional 564,956 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Stock Up 7.6 %

Cipher Mining stock opened at $3.68 on Friday. The company has a quick ratio of 4.60, a current ratio of 4.60 and a debt-to-equity ratio of 0.02. Cipher Mining has a 12-month low of $1.76 and a 12-month high of $5.75. The firm’s fifty day moving average is $3.86 and its 200 day moving average is $3.35. The company has a market capitalization of $1.09 billion, a PE ratio of -36.80 and a beta of 2.22.

Cipher Mining (NASDAQ:CIFR) last released its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Cipher Mining had a negative net margin of 20.32% and a negative return on equity of 6.78%. The company had revenue of $43.42 million for the quarter, compared to the consensus estimate of $35.73 million. As a group, sell-side analysts predict that Cipher Mining will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on CIFR. Canaccord Genuity Group reiterated a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a research report on Thursday, March 28th. HC Wainwright restated a “buy” rating and issued a $4.50 price target on shares of Cipher Mining in a research report on Tuesday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $5.00 price target on shares of Cipher Mining in a research report on Thursday, March 28th. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a research report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cipher Mining has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

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.