Traders Purchase High Volume of Cipher Mining Call Options (NASDAQ:CIFR)

Cipher Mining Inc. (NASDAQ:CIFR) saw some unusual options trading activity on Wednesday. Stock investors bought 36,320 call options on the stock. This represents an increase of approximately 115% compared to the typical volume of 16,913 call options.

Wall Street Analyst Weigh In

Several analysts have commented on CIFR shares. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. Canaccord Genuity Group reiterated a “buy” rating and set a $8.00 target price on shares of Cipher Mining in a research report on Wednesday, February 26th. Keefe, Bruyette & Woods began coverage on shares of Cipher Mining in a research report on Wednesday, January 8th. They set an “outperform” rating for the company. Needham & Company LLC lowered their price objective on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Cantor Fitzgerald lowered their price objective on shares of Cipher Mining from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cipher Mining currently has a consensus rating of “Buy” and an average price target of $8.13.

Institutional Investors Weigh In On Cipher Mining

Several hedge funds have recently bought and sold shares of CIFR. V3 Holding Ltd acquired a new stake in Cipher Mining in the 4th quarter valued at about $452,713,000. Lone Pine Capital LLC bought a new position in shares of Cipher Mining during the fourth quarter worth approximately $10,878,000. Helix Partners Management LP bought a new position in shares of Cipher Mining during the fourth quarter worth approximately $10,426,000. Driehaus Capital Management LLC bought a new position in shares of Cipher Mining during the fourth quarter worth approximately $9,439,000. Finally, Tidal Investments LLC increased its holdings in shares of Cipher Mining by 73.4% during the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock worth $14,485,000 after purchasing an additional 1,584,874 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Cipher Mining Trading Down 5.3 %

Shares of NASDAQ:CIFR opened at $3.03 on Friday. Cipher Mining has a 52-week low of $2.65 and a 52-week high of $7.99. The company has a market capitalization of $1.11 billion, a P/E ratio of -23.31 and a beta of 2.47. The company has a 50-day simple moving average of $5.01 and a 200 day simple moving average of $5.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.57 and a current ratio of 2.57.

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.