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

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

Insider Buying and Selling

In other Chime Financial news, Director James Feuille sold 7,229 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $24.82, for a total value of $179,423.78. Following the completion of the transaction, the director directly owned 7,037,707 shares in the company, valued at $174,675,887.74. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher R. Britt sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 72,111 shares of company stock valued at $1,996,109.

Institutional Inflows and Outflows

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

Chime Financial Stock Down 4.7%

Shares of NASDAQ CHYM traded down $1.01 during midday trading on Friday, hitting $20.61. 5,358,199 shares of the company’s stock were exchanged, compared to its average volume of 4,006,205. The firm has a market capitalization of $7.92 billion and a PE ratio of -2.73. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94. The company’s 50 day moving average price is $23.56 and its 200 day moving average price is $22.63.

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

Analysts Set New Price Targets

CHYM has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. UBS Group increased their price target on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. KeyCorp assumed coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company. B. Riley Financial began coverage on shares of Chime Financial in a research note on Thursday, December 11th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.28.

About Chime Financial

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.