Short Interest in CoinShares (NASDAQ:CSHR) Increases By 106.0%

CoinShares (NASDAQ:CSHR) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 831,802 shares, an increase of 106.0% from the April 30th total of 403,830 shares. Based on an average daily volume of 405,086 shares, the short-interest ratio is currently 2.1 days. Approximately 0.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CSHR shares. Keefe, Bruyette & Woods began coverage on CoinShares in a report on Wednesday, May 13th. They set an “outperform” rating and a $9.00 target price on the stock. Wall Street Zen upgraded CoinShares from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $9.00.

CoinShares Stock Down 7.1%

Shares of NASDAQ:CSHR traded down $0.35 during midday trading on Monday, reaching $4.61. The company’s stock had a trading volume of 189,774 shares, compared to its average volume of 600,953. The company has a market cap of $607.51 million, a P/E ratio of 25.61 and a beta of -1.68. CoinShares has a 1 year low of $4.54 and a 1 year high of $10.43.

CoinShares Company Profile

CoinShares is a digital asset investment company that provides a range of financial products and services focused on cryptocurrency and blockchain-related markets. The company offers exchange-traded products and other investment vehicles designed to give institutional and retail investors exposure to digital assets without needing to directly hold the underlying cryptocurrencies.

Founded in the digital asset space, CoinShares has built its business around investment management, asset servicing, and research related to the crypto ecosystem.