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 trading volume of 10,470,000 shares, the days-to-cover ratio is currently 2.2 days. Approximately 9.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CIFR shares. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price objective on shares of Cipher Mining in a research note on Friday, November 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of Cipher Mining from a “neutral” rating to an “overweight” rating and set a $8.00 price objective on the stock in a report on Tuesday, December 10th. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Finally, Northland Capmk raised Cipher Mining to a “strong-buy” rating in a report on Wednesday, September 25th. Ten investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.25.

Insiders Place Their Bets

In other news, COO Patrick Arthur Kelly sold 53,161 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 664,270 shares in the company, valued at approximately $4,756,173.20. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of Cipher Mining stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.22, for a total value of $6,220,000.00. Following the completion of the transaction, the insider now owns 99,047,588 shares of the company’s stock, valued at approximately $616,075,997.36. This trade represents a 1.00 % decrease in their ownership of the stock. 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 three months. 2.25% of the stock is currently owned by insiders.

Institutional Trading of Cipher Mining

Large investors have recently bought and sold shares of the business. Amalgamated Bank raised its holdings in shares of Cipher Mining by 321.8% in the second quarter. Amalgamated Bank now owns 5,973 shares of the company’s stock valued at $25,000 after buying an additional 4,557 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Cipher Mining by 912.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,027 shares of the company’s stock valued at $28,000 after acquiring an additional 5,432 shares during the period. Farther Finance Advisors LLC purchased a new stake in Cipher Mining during the 3rd quarter valued at approximately $33,000. Xponance Inc. purchased a new stake in Cipher Mining during the 2nd quarter valued at approximately $45,000. Finally, W Advisors LLC acquired a new stake in Cipher Mining during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

Cipher Mining Stock Performance

Shares of NASDAQ CIFR traded up $0.23 during trading hours on Friday, reaching $5.43. The stock had a trading volume of 8,558,961 shares, compared to its average volume of 8,581,191. The firm has a 50-day moving average of $5.98 and a 200-day moving average of $4.97. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -41.77 and a beta of 2.38. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.01. Cipher Mining has a fifty-two week low of $2.15 and a fifty-two week high of $7.99.

Cipher Mining (NASDAQ:CIFR) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The firm had revenue of $24.10 million during the quarter, compared to analyst estimates of $25.84 million. Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. During the same period in the previous year, the company posted ($0.07) earnings per share. Equities research analysts predict that Cipher Mining will post -0.31 earnings per share for the current year.

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.