Short Interest in Chime Financial, Inc. (NASDAQ:CHYM) Decreases By 25.9%

Chime Financial, Inc. (NASDAQ:CHYM) was the recipient of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 6,963,802 shares, a drop of 25.9% from the February 12th total of 9,397,312 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 4,019,876 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 4,019,876 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.9% of the company’s shares are short sold.

Insider Transactions at Chime Financial

In other Chime Financial news, CEO Christopher R. Britt sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.06, for a total value of $1,403,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew S. Newcomb sold 10,000 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the sale, the chief financial officer owned 2,240,798 shares of the company’s stock, valued at $62,764,751.98. The trade was a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 72,111 shares of company stock valued at $1,996,109.

Institutional Investors Weigh In On Chime Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of CHYM. PNC Financial Services Group Inc. bought a new stake in Chime Financial in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial in the second quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in shares of Chime Financial in the second quarter worth $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Chime Financial during the 2nd quarter worth about $40,000.

Chime Financial Stock Down 4.7%

CHYM traded down $1.01 during trading on Friday, hitting $20.61. The company had a trading volume of 5,358,199 shares, compared to its average volume of 4,006,205. The company has a market capitalization of $7.92 billion and a PE ratio of -2.73. Chime Financial has a one year low of $16.17 and a one year high of $44.94. The firm’s 50-day moving average price is $23.56 and its 200 day moving average price is $22.63.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. The firm had revenue of $596.36 million during the quarter. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.Chime Financial’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.30) EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. KeyCorp began coverage on shares of Chime Financial in a report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price target for the company. UBS Group lifted their target price on Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. The Goldman Sachs Group boosted their target price on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. B. Riley Financial initiated coverage on Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.28.

Chime Financial Company Profile

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.