Cipher Mining Inc. (NASDAQ:CIFR) Short Interest Update

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 22,390,000 shares, a decrease of 6.0% from the July 31st total of 23,810,000 shares. Approximately 10.9% of the shares of the stock are short sold. Based on an average trading volume of 10,040,000 shares, the short-interest ratio is presently 2.2 days.

Cipher Mining Trading Down 6.8 %

Shares of NASDAQ:CIFR traded down $0.24 during trading on Tuesday, hitting $3.27. The company had a trading volume of 4,101,021 shares, compared to its average volume of 8,846,824. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 55.33 and a beta of 2.29. Cipher Mining has a one year low of $2.15 and a one year high of $7.99. The company has a fifty day simple moving average of $4.62 and a two-hundred day simple moving average of $4.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.49 and a quick ratio of 8.49.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $36.81 million during the quarter, compared to analyst estimates of $39.17 million. Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. During the same period last year, the company earned ($0.05) EPS. As a group, equities analysts forecast that Cipher Mining will post -0.05 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Cipher Mining in a research note on Tuesday, June 11th. They set an “overweight” rating and a $9.00 price target for the company. Stifel Canada raised Cipher Mining to a “strong-buy” rating in a research note on Tuesday, August 6th. HC Wainwright increased their price target on Cipher Mining from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Compass Point increased their price target on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research note on Thursday, August 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $7.42.

Insider Transactions at Cipher Mining

In other news, major shareholder Top Holdco B.V. Bitfury sold 319,747 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $4.21, for a total value of $1,346,134.87. Following the completion of the transaction, the insider now owns 115,790,611 shares of the company’s stock, valued at $487,478,472.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 4,103,460 shares of company stock valued at $19,635,901 over the last 90 days. Company insiders own 2.25% of the company’s stock.

Institutional Investors Weigh In On Cipher Mining

Several institutional investors have recently modified their holdings of CIFR. Victory Capital Management Inc. raised its holdings in shares of Cipher Mining by 21.7% in the second quarter. Victory Capital Management Inc. now owns 23,895 shares of the company’s stock worth $99,000 after buying an additional 4,256 shares during the period. Amalgamated Bank raised its holdings in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock worth $25,000 after buying an additional 4,557 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Cipher Mining by 50.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after buying an additional 5,000 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Cipher Mining in the first quarter worth approximately $52,000. Finally, Gabelli Funds LLC raised its holdings in shares of Cipher Mining by 25.0% in the first quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock worth $258,000 after buying an additional 10,000 shares during the period. 12.26% of the stock is owned by institutional investors.

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.