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

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 180,265 call options on the stock. This is an increase of 53% compared to the average daily volume of 117,563 call options.

Insider Buying and Selling

In other news, Director James Newsome sold 3,758 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.60, for a total value of $99,962.80. Following the completion of the transaction, the director owned 128,530 shares in the company, valued at $3,418,898. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tyler Page sold 112,500 shares of Cipher Mining stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $21.19, for a total value of $2,383,875.00. Following the transaction, the chief executive officer directly owned 9,084,225 shares of the company’s stock, valued at $192,494,727.75. This trade represents a 1.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 131,258 shares of company stock valued at $2,925,288. 3.09% of the stock is owned by insiders.

Institutional Trading of Cipher Mining

Several hedge funds and other institutional investors have recently bought and sold shares of CIFR. CoreCap Advisors LLC raised its holdings in Cipher Mining by 41.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,700 shares of the company’s stock valued at $42,000 after acquiring an additional 500 shares during the last quarter. Abel Hall LLC boosted its holdings in shares of Cipher Mining by 3.8% during the first quarter. Abel Hall LLC now owns 20,140 shares of the company’s stock worth $259,000 after purchasing an additional 739 shares during the last quarter. Rathbones Group PLC grew its position in shares of Cipher Mining by 7.0% in the first quarter. Rathbones Group PLC now owns 11,495 shares of the company’s stock valued at $148,000 after purchasing an additional 750 shares during the period. CWM LLC grew its position in shares of Cipher Mining by 43.3% in the fourth quarter. CWM LLC now owns 2,661 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the period. Finally, Navellier & Associates Inc. increased its stake in Cipher Mining by 3.7% in the second quarter. Navellier & Associates Inc. now owns 25,230 shares of the company’s stock valued at $618,000 after purchasing an additional 901 shares during the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on CIFR shares. Sanford C. Bernstein began coverage on shares of Cipher Mining in a report on Wednesday, June 3rd. They issued an “outperform” rating and a $32.00 price target on the stock. BTIG Research raised their price objective on shares of Cipher Mining from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Cipher Mining in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reduced their target price on Cipher Mining from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Finally, UBS Group set a $30.00 target price on Cipher Mining in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.61.

Cipher Mining Price Performance

CIFR stock traded up $1.66 during trading on Tuesday, hitting $19.40. The stock had a trading volume of 23,658,701 shares, compared to its average volume of 28,334,084. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of -6.79 and a beta of 3.15. The company has a debt-to-equity ratio of 9.69, a quick ratio of 3.00 and a current ratio of 3.00. The company’s 50 day moving average price is $19.19 and its two-hundred day moving average price is $19.13. Cipher Mining has a 1-year low of $7.90 and a 1-year high of $30.14.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.40). The firm had revenue of $24.84 million for the quarter, compared to analyst estimates of $31.86 million. Cipher Mining had a negative return on equity of 156.28% and a negative net margin of 585.75%.During the same period in the prior year, the business earned ($0.12) earnings per share. On average, sell-side analysts forecast that Cipher Mining will post -1.36 EPS for the current fiscal year.

About Cipher Mining

Cipher Mining Inc is a Nasdaq-listed bitcoin mining company that develops, owns and operates large-scale mining facilities across the United States. The company focuses on deploying advanced ASIC hardware and securing long-term low-cost power contracts to optimize bitcoin production. By strategically locating its sites in regions with abundant energy supply, Cipher Mining seeks to maintain a competitive cost structure and deliver efficient hashrate capacity growth.

Founded in 2021 and headquartered in Austin, Texas, Cipher Mining has pursued an integrated approach encompassing site development, equipment procurement and operations management.