Cipher Mining Target of Unusually Large Options Trading (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of some unusual options trading activity on Thursday. Traders purchased 24,472 call options on the stock. This is an increase of 82% compared to the typical daily volume of 13,465 call options.

Cipher Mining Stock Performance

NASDAQ:CIFR opened at $3.84 on Friday. Cipher Mining has a twelve month low of $1.76 and a twelve month high of $5.75. The company has a current ratio of 4.60, a quick ratio of 4.60 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $3.87 and a 200-day moving average of $3.36. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -38.40 and a beta of 2.22.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.05 earnings per share for the quarter, beating 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 company had revenue of $43.42 million during the quarter, compared to analyst estimates of $35.73 million. Analysts forecast that Cipher Mining will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Cipher Mining

Several large investors have recently made changes to their positions in the business. Gotham Asset Management LLC boosted its position in shares of Cipher Mining by 20.1% during the 4th quarter. Gotham Asset Management LLC now owns 15,811 shares of the company’s stock valued at $65,000 after purchasing an additional 2,649 shares in the last quarter. Rhumbline Advisers lifted its stake in Cipher Mining by 5.4% during the third quarter. Rhumbline Advisers now owns 64,313 shares of the company’s stock valued at $150,000 after buying an additional 3,313 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Cipher Mining by 2.5% during the fourth quarter. Nuveen Asset Management LLC now owns 194,013 shares of the company’s stock valued at $801,000 after buying an additional 4,652 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Cipher Mining by 50.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after buying an additional 5,000 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Cipher Mining by 104.9% during the third quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock valued at $25,000 after buying an additional 5,592 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.

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.