Cipher Mining Inc. (NASDAQ:CIFR – Get Free Report) saw some unusual options trading activity on Thursday. Investors acquired 24,472 call options on the stock. This represents an increase of 82% compared to the typical volume of 13,465 call options.
Wall Street Analyst Weigh In
CIFR has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of Cipher Mining in a research note on Monday, March 18th. HC Wainwright reiterated a “buy” rating and set a $4.50 price objective on shares of Cipher Mining in a research note on Tuesday, March 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $5.50 price objective on shares of Cipher Mining in a research note on Thursday, March 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price objective on shares of Cipher Mining in a research note on Thursday, March 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.25.
Get Our Latest Stock Report on CIFR
Institutional Inflows and Outflows
Cipher Mining Trading Up 4.3 %
Shares of Cipher Mining stock opened at $3.84 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.60 and a quick ratio of 4.60. The firm has a fifty day moving average price of $3.87 and a 200 day moving average price of $3.36. Cipher Mining has a 1 year low of $1.76 and a 1 year high of $5.75. The stock has a market cap of $1.14 billion, a PE ratio of -38.40 and a beta of 2.22.
Cipher Mining (NASDAQ:CIFR – Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $43.42 million during the quarter, compared to analysts’ expectations of $35.73 million. Equities research analysts predict that Cipher Mining will post -0.15 earnings per share for the current year.
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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