Short Interest in Circle Internet Group, Inc. (NYSE:CRCL) Increases By 55.4%

Circle Internet Group, Inc. (NYSE:CRCL) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 22,739,611 shares, an increase of 55.4% from the January 15th total of 14,636,079 shares. Currently, 9.7% of the shares of the stock are sold short. Based on an average daily volume of 11,164,657 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 11,164,657 shares, the short-interest ratio is presently 2.0 days. Currently, 9.7% of the shares of the stock are sold short.

Circle Internet Group Stock Up 6.2%

CRCL stock traded up $3.53 during mid-day trading on Monday, hitting $60.16. 11,990,578 shares of the company were exchanged, compared to its average volume of 11,397,182. The business has a fifty day simple moving average of $75.20 and a 200-day simple moving average of $106.20. The firm has a market capitalization of $14.17 billion and a P/E ratio of -26.27. Circle Internet Group has a 12-month low of $49.90 and a 12-month high of $298.99.

Insider Buying and Selling at Circle Internet Group

In other Circle Internet Group news, insider Nikhil Chandhok sold 10,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the insider directly owned 474,974 shares in the company, valued at approximately $42,747,660. This represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Heath Tarbert sold 3,048 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $90.02, for a total transaction of $274,380.96. Following the completion of the transaction, the president directly owned 579,302 shares of the company’s stock, valued at approximately $52,148,766.04. This represents a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 360,018 shares of company stock valued at $28,288,388.

Institutional Investors Weigh In On Circle Internet Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Truist Financial Corp acquired a new position in Circle Internet Group in the 2nd quarter valued at about $218,000. Concurrent Investment Advisors LLC acquired a new position in Circle Internet Group during the second quarter worth $238,000. CWM LLC purchased a new position in Circle Internet Group in the second quarter worth $115,000. Atria Wealth Solutions Inc. acquired a new stake in Circle Internet Group in the second quarter valued at $223,000. Finally, Ritholtz Wealth Management acquired a new position in shares of Circle Internet Group during the 2nd quarter worth $292,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CRCL shares. JPMorgan Chase & Co. lowered their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. HC Wainwright assumed coverage on shares of Circle Internet Group in a research report on Friday, December 19th. They issued a “neutral” rating and a $85.00 price target on the stock. Morgan Stanley began coverage on shares of Circle Internet Group in a report on Monday, February 2nd. They set an “equal weight” rating and a $66.00 price target on the stock. Needham & Company LLC reduced their price target on shares of Circle Internet Group from $250.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Wolfe Research assumed coverage on shares of Circle Internet Group in a research report on Tuesday, December 2nd. They set an “underperform” rating and a $60.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Circle Internet Group presently has an average rating of “Hold” and a consensus target price of $131.76.

Circle Internet Group Company Profile

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USD Coin (USDC), a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.