Coinbase Global, Inc. (NASDAQ:COIN) Short Interest Up 30.8% in April

Coinbase Global, Inc. (NASDAQ:COIN) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 9,520,000 shares, an increase of 30.8% from the April 15th total of 7,280,000 shares. Approximately 6.5% of the shares of the company are sold short. Based on an average daily trading volume, of 4,890,000 shares, the days-to-cover ratio is presently 1.9 days.

A number of research firms recently commented on COIN. Mizuho lowered their price target on shares of Coinbase Global from $135.00 to $60.00 in a research report on Thursday. Compass Point cut their price objective on shares of Coinbase Global from $325.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday, February 28th. Daiwa Capital Markets initiated coverage on shares of Coinbase Global in a report on Friday, April 22nd. They issued a “buy” rating on the stock. JMP Securities cut their price target on shares of Coinbase Global from $394.00 to $250.00 in a report on Wednesday, May 11th. Finally, Canaccord Genuity Group reduced their price target on shares of Coinbase Global from $342.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $250.89.

Shares of Coinbase Global stock traded down $2.56 on Monday, hitting $65.31. The stock had a trading volume of 395,394 shares, compared to its average volume of 6,938,919. The stock has a 50 day moving average of $149.71 and a 200 day moving average of $214.36. The firm has a market capitalization of $14.33 billion and a P/E ratio of 6.67. Coinbase Global has a twelve month low of $40.83 and a twelve month high of $368.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.61 and a current ratio of 1.55.

Coinbase Global (NASDAQ:COINGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($2.72). The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.48 billion. Coinbase Global had a net margin of 33.63% and a return on equity of 42.39%. The company’s revenue was down 35.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 earnings per share. Equities analysts expect that Coinbase Global will post -7.47 earnings per share for the current year.

In other Coinbase Global news, insider Paul Grewal sold 1,207 shares of the stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $173.87, for a total value of $209,861.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

A number of large investors have recently made changes to their positions in COIN. West Branch Capital LLC bought a new position in Coinbase Global during the fourth quarter worth $25,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $25,000. Wagner Wealth Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $27,000. Cornerstone Advisory LLC acquired a new stake in Coinbase Global during the fourth quarter worth approximately $27,000. Finally, Gradient Investments LLC grew its stake in Coinbase Global by 222.9% during the fourth quarter. Gradient Investments LLC now owns 113 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 78 shares during the period. 39.01% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Company Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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