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

Cipher Mining Inc. (NASDAQ:CIFR) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 22,680,000 shares, a growth of 14.7% from the December 15th total of 19,770,000 shares. Based on an average daily volume of 10,470,000 shares, the short-interest ratio is presently 2.2 days. Approximately 9.5% of the company’s shares are short sold.

Analyst Ratings Changes

CIFR has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of Cipher Mining in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods initiated coverage on Cipher Mining in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upgraded Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of Cipher Mining in a research note on Friday, November 1st. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $8.25.

Cipher Mining Trading Up 4.4 %

CIFR traded up $0.23 on Friday, hitting $5.43. The company had a trading volume of 8,558,961 shares, compared to its average volume of 8,581,191. The company has a market cap of $1.89 billion, a PE ratio of -41.77 and a beta of 2.38. Cipher Mining has a 12-month low of $2.15 and a 12-month high of $7.99. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $5.98 and its 200 day simple moving average is $4.97.

Cipher Mining (NASDAQ:CIFR) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The company had revenue of $24.10 million during the quarter, compared to analysts’ expectations of $25.84 million. Cipher Mining had a negative return on equity of 8.29% and a negative net margin of 33.39%. During the same quarter in the prior year, the business posted ($0.07) EPS. Equities research analysts expect that Cipher Mining will post -0.31 EPS for the current year.

Insider Buying and Selling at Cipher Mining

In other Cipher Mining news, major shareholder Top Holdco B.V. Bitfury sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $6.60, for a total transaction of $1,980,000.00. Following the transaction, the insider now owns 98,747,588 shares in the company, valued at approximately $651,734,080.80. This represents a 0.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Arthur Kelly sold 53,161 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $7.16, for a total value of $380,632.76. Following the transaction, the chief operating officer now owns 664,270 shares in the company, valued at $4,756,173.20. This trade represents a 7.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,881 shares of company stock valued at $8,608,389 in the last 90 days. Insiders own 2.25% of the company’s stock.

Institutional Trading of Cipher Mining

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Cipher Mining by 253.7% during the second quarter. Rhumbline Advisers now owns 226,905 shares of the company’s stock valued at $942,000 after acquiring an additional 162,749 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Cipher Mining by 21.7% during the second quarter. Victory Capital Management Inc. now owns 23,895 shares of the company’s stock valued at $99,000 after buying an additional 4,256 shares during the last quarter. Arizona State Retirement System boosted its holdings in Cipher Mining by 184.6% in the second quarter. Arizona State Retirement System now owns 49,802 shares of the company’s stock valued at $207,000 after purchasing an additional 32,305 shares during the last quarter. American Century Companies Inc. boosted its holdings in Cipher Mining by 129.4% in the second quarter. American Century Companies Inc. now owns 176,783 shares of the company’s stock valued at $734,000 after purchasing an additional 99,736 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Cipher Mining in the second quarter valued at $2,142,000. 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.