Stock Traders Buy High Volume of Call Options on Cipher Mining (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) was the target of unusually large options trading on Tuesday. Stock traders acquired 19,132 call options on the company. This represents an increase of 65% compared to the typical volume of 11,591 call options.

Cipher Mining Price Performance

CIFR stock opened at $5.33 on Thursday. 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 market capitalization of $1.58 billion, a P/E ratio of -53.29 and a beta of 2.06. The business’s 50-day moving average is $3.39 and its two-hundred day moving average is $3.18. Cipher Mining has a 1 year low of $1.76 and a 1 year high of $5.66.

Institutional Investors Weigh In On Cipher Mining

A number of hedge funds have recently bought and sold shares of the stock. Gotham Asset Management LLC raised its position in Cipher Mining by 20.1% in 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 raised its position in Cipher Mining by 5.4% in the 3rd quarter. Rhumbline Advisers now owns 64,313 shares of the company’s stock valued at $150,000 after purchasing an additional 3,313 shares in the last quarter. Nuveen Asset Management LLC raised its position in Cipher Mining by 2.5% in the 4th quarter. Nuveen Asset Management LLC now owns 194,013 shares of the company’s stock valued at $801,000 after purchasing an additional 4,652 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Cipher Mining by 50.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock valued at $62,000 after purchasing an additional 5,000 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Cipher Mining by 104.9% in the 3rd quarter. New York State Common Retirement Fund now owns 10,921 shares of the company’s stock valued at $25,000 after purchasing an additional 5,592 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

Wall Street Analyst Weigh In

CIFR has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of Cipher Mining in a report on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Cipher Mining in a research note on Monday, March 18th. Canaccord Genuity Group reissued a “buy” rating and set a $5.50 target price on shares of Cipher Mining in a research note on Wednesday, March 6th. Finally, HC Wainwright reissued a “buy” rating and set a $4.50 target price on shares of Cipher Mining in a research note on Tuesday, March 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.