Cipher Mining Inc. (NASDAQ:CIFR) Short Interest Up 14.7% in December

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of a large growth in short interest in 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. Currently, 9.5% of the company’s stock are short sold. Based on an average trading volume of 10,470,000 shares, the days-to-cover ratio is presently 2.2 days.

Cipher Mining Price Performance

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

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

Wall Street Analyst Weigh In

A number of research analysts have commented on CIFR shares. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a research note on Friday, November 1st. Keefe, Bruyette & Woods assumed coverage on Cipher Mining in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. BTIG Research lifted their target price on Cipher Mining from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Northland Capmk upgraded Cipher Mining to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, 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 research report on Tuesday, December 10th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Cipher Mining currently has an average rating of “Buy” and a consensus target price of $8.25.

Insider Buying and Selling

In other news, major shareholder Top Holdco B.V. Bitfury sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.22, for a total transaction of $6,220,000.00. Following the transaction, the insider now directly owns 99,047,588 shares in the company, valued at approximately $616,075,997.36. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Patrick Arthur Kelly sold 53,161 shares of Cipher Mining stock in a transaction on Friday, November 8th. The shares were sold at an average price of $7.16, for a total transaction of $380,632.76. Following the completion of the transaction, the chief operating officer now directly owns 664,270 shares in the company, valued at $4,756,173.20. The trade was a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,356,881 shares of company stock worth $8,608,389 in the last ninety days. 2.25% of the stock is owned by corporate insiders.

Institutional Trading of Cipher Mining

Several large investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Cipher Mining by 17.3% in the 3rd quarter. State Street Corp now owns 6,919,189 shares of the company’s stock worth $26,777,000 after buying an additional 1,019,949 shares in the last quarter. Geode Capital Management LLC raised its position in Cipher Mining by 37.8% during the third quarter. Geode Capital Management LLC now owns 5,509,853 shares of the company’s stock worth $21,327,000 after acquiring an additional 1,511,455 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Cipher Mining by 122.8% in the second quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock valued at $22,123,000 after purchasing an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Cipher Mining by 41.5% in the third quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock valued at $15,094,000 after purchasing an additional 1,144,390 shares in the last quarter. Finally, Tidal Investments LLC grew its position in shares of Cipher Mining by 73.4% in the third quarter. Tidal Investments LLC now owns 3,742,931 shares of the company’s stock valued at $14,485,000 after purchasing an additional 1,584,874 shares during the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

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.