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

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 20,180,000 shares, an increase of 14.5% from the May 31st total of 17,630,000 shares. Based on an average daily trading volume, of 8,160,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 10.7% of the company’s shares are short sold.

Cipher Mining Trading Up 2.2 %

Shares of Cipher Mining stock opened at $4.24 on Monday. The stock has a fifty day simple moving average of $4.19 and a 200 day simple moving average of $3.83. Cipher Mining has a 12-month low of $2.15 and a 12-month high of $5.89. The company has a market capitalization of $1.31 billion, a P/E ratio of 69.18 and a beta of 2.29. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.02.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $48.14 million during the quarter, compared to the consensus estimate of $50.05 million. Cipher Mining had a return on equity of 4.66% and a net margin of 13.54%.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 294,811 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $4.08, for a total value of $1,202,828.88. Following the transaction, the insider now directly owns 118,519,768 shares of the company’s stock, valued at $483,560,653.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 4,202,460 shares of company stock valued at $18,467,001. 2.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Cipher Mining by 62.0% during the 1st quarter. Vanguard Group Inc. now owns 5,657,019 shares of the company’s stock worth $29,134,000 after acquiring an additional 2,164,383 shares during the period. Van ECK Associates Corp grew its stake in shares of Cipher Mining by 38.9% during the 1st quarter. Van ECK Associates Corp now owns 2,733,743 shares of the company’s stock worth $14,079,000 after acquiring an additional 765,238 shares during the period. First Financial Bankshares Inc bought a new position in shares of Cipher Mining during the 4th quarter worth $9,901,000. Vident Advisory LLC grew its stake in shares of Cipher Mining by 94.9% during the 1st quarter. Vident Advisory LLC now owns 2,240,261 shares of the company’s stock worth $11,537,000 after acquiring an additional 1,090,811 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Cipher Mining by 107.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 693,097 shares of the company’s stock worth $2,862,000 after acquiring an additional 358,897 shares during the period. Institutional investors own 12.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Cipher Mining in a research report on Friday, June 7th. Cantor Fitzgerald assumed coverage on Cipher Mining in a research report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $6.00 target price (up from $5.50) on shares of Cipher Mining in a research report on Wednesday, May 8th. Finally, HC Wainwright upped their price target on Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cipher Mining currently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

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.