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

Cipher Mining Inc. (NASDAQ:CIFR) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 25,930,000 shares, an increase of 16.0% from the September 15th total of 22,360,000 shares. Based on an average daily trading volume, of 9,520,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 11.8% of the shares of the company are short sold.

Cipher Mining Price Performance

Shares of CIFR traded up $0.63 during mid-day trading on Wednesday, reaching $5.01. 15,034,718 shares of the company’s stock were exchanged, compared to its average volume of 9,031,028. The company has a quick ratio of 8.49, a current ratio of 8.49 and a debt-to-equity ratio of 0.01. Cipher Mining has a 52-week low of $2.15 and a 52-week high of $7.99. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 83.50 and a beta of 2.25. The company has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $4.17.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Cipher Mining had a return on equity of 3.41% and a net margin of 11.43%. The company had revenue of $36.81 million during the quarter, compared to the consensus estimate of $39.17 million. During the same quarter last year, the business posted ($0.05) earnings per share. On average, sell-side analysts predict that Cipher Mining will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CIFR. Needham & Company LLC increased their price target on shares of Cipher Mining from $5.00 to $7.50 and gave the company a “buy” rating in a report on Wednesday, August 14th. Northland Capmk raised shares of Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Northland Securities began coverage on Cipher Mining in a research note on Wednesday, September 25th. They set an “outperform” rating and a $6.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 price target on shares of Cipher Mining in a report on Thursday, August 29th. Finally, Compass Point lifted their price objective on Cipher Mining from $7.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $7.21.

Insiders Place Their Bets

In other news, insider William Iwaschuk sold 150,000 shares of Cipher Mining stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total value of $591,000.00. Following the sale, the insider now owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $6.23, for a total transaction of $3,798,082.12. Following the transaction, the insider now owns 109,911,187 shares of the company’s stock, valued at $684,746,695.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Iwaschuk sold 150,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3.94, for a total value of $591,000.00. Following the completion of the transaction, the insider now owns 619,148 shares of the company’s stock, valued at $2,439,443.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,462,980 shares of company stock worth $20,795,679. 2.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CIFR. Virtu Financial LLC acquired a new stake in Cipher Mining during the fourth quarter worth approximately $202,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Cipher Mining by 50.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 5,000 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Cipher Mining in the fourth quarter valued at $513,000. Nomura Holdings Inc. acquired a new position in Cipher Mining in the fourth quarter valued at $213,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Cipher Mining during the first quarter worth about $542,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.