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

Cipher Mining Inc. (NASDAQ:CIFR) saw some unusual options trading activity on Tuesday. Stock investors purchased 19,116 call options on the stock. This is an increase of 16% compared to the typical daily volume of 16,523 call options.

Cipher Mining Trading Up 2.0 %

NASDAQ CIFR opened at $4.18 on Thursday. Cipher Mining has a 12-month low of $2.65 and a 12-month high of $7.99. The company has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $5.04. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.45 billion, a P/E ratio of -32.15 and a beta of 2.41.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CIFR shares. JPMorgan Chase & Co. raised shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a research note on Tuesday, December 10th. Macquarie increased their target price on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Needham & Company LLC cut their price target on shares of Cipher Mining from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Cantor Fitzgerald reduced their price target on Cipher Mining from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Northland Securities raised their price objective on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Cipher Mining has a consensus rating of “Buy” and a consensus price target of $8.31.

Hedge Funds Weigh In On Cipher Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in Cipher Mining by 912.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after purchasing an additional 5,432 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Cipher Mining during the fourth quarter worth about $29,000. Farther Finance Advisors LLC purchased a new stake in Cipher Mining in the third quarter valued at approximately $33,000. W Advisors LLC acquired a new position in Cipher Mining in the 3rd quarter worth approximately $45,000. Finally, KBC Group NV purchased a new position in Cipher Mining during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors 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.