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

Cipher Mining Inc. (NASDAQ:CIFR) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 24,110,000 shares, a growth of 8.6% from the June 30th total of 22,210,000 shares. Based on an average trading volume of 9,210,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 12.5% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research analysts have issued reports on CIFR shares. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of Cipher Mining in a report on Friday, June 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $6.00 target price (up from $5.50) on shares of Cipher Mining in a research note on Wednesday, May 8th. Cantor Fitzgerald began coverage on shares of Cipher Mining in a research report on Tuesday, June 11th. They set an “overweight” rating and a $9.00 price target on the stock. Finally, HC Wainwright upped their price objective on shares of Cipher Mining from $5.50 to $6.00 and gave the stock a “buy” rating in a research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.40.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR traded down $0.21 during trading on Tuesday, reaching $5.36. The stock had a trading volume of 3,616,232 shares, compared to its average volume of 8,921,938. The company has a debt-to-equity ratio of 0.02, a quick ratio of 8.08 and a current ratio of 8.08. Cipher Mining has a 1-year low of $2.15 and a 1-year high of $7.99. The stock has a market cap of $1.66 billion, a PE ratio of 92.85 and a beta of 2.29. The business has a fifty day moving average price of $4.73 and a 200-day moving average price of $4.05.

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

Insider Transactions at Cipher Mining

In related news, major shareholder Top Holdco B.V. Bitfury sold 609,644 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $6.23, for a total transaction of $3,798,082.12. Following the completion of the transaction, the insider now directly owns 109,911,187 shares in the company, valued at $684,746,695.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 5,302,379 shares of company stock worth $24,285,016 over the last 90 days. 2.25% of the stock is currently owned by company insiders.

Institutional Trading of Cipher Mining

Several large investors have recently bought and sold shares of CIFR. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Cipher Mining by 50.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,000 shares of the company’s stock worth $62,000 after purchasing an additional 5,000 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Cipher Mining during the first quarter worth $52,000. Gabelli Funds LLC grew its holdings in Cipher Mining by 25.0% in the 1st quarter. Gabelli Funds LLC now owns 50,000 shares of the company’s stock valued at $258,000 after buying an additional 10,000 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Cipher Mining by 19.4% in the 1st quarter. California State Teachers Retirement System now owns 61,546 shares of the company’s stock worth $317,000 after acquiring an additional 10,019 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cipher Mining by 93.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,482 shares of the company’s stock worth $89,000 after acquiring an additional 10,380 shares during the last quarter. 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.