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

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

Insider Transactions at Chime Financial

In other news, General Counsel Adam B. Frankel sold 4,382 shares of Chime Financial stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $27.29, for a total transaction of $119,584.78. Following the transaction, the general counsel owned 209,500 shares in the company, valued at approximately $5,717,255. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew S. Newcomb sold 10,000 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.01, for a total value of $280,100.00. Following the completion of the sale, the chief financial officer directly owned 2,240,798 shares of the company’s stock, valued at approximately $62,764,751.98. This represents a 0.44% decrease in their ownership of the stock. 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.

Hedge Funds Weigh In On Chime Financial

A number of large investors have recently bought and sold shares of CHYM. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial during the 2nd quarter worth approximately $33,000. Scopus Asset Management L.P. acquired a new position in Chime Financial in the second quarter valued at $34,000. PNC Financial Services Group Inc. acquired a new stake in shares of Chime Financial during the fourth quarter worth about $25,000. Daiwa Securities Group Inc. purchased a new stake in shares of Chime Financial in the 2nd quarter valued at about $40,000. Finally, Osaic Holdings Inc. purchased a new position in Chime Financial during the 2nd quarter worth approximately $45,000.

Analysts Set New Price Targets

A number of research firms have commented on CHYM. UBS Group boosted their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. The Goldman Sachs Group raised their price objective on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, B. Riley Financial initiated coverage on Chime Financial in a research note on Thursday, December 11th. They issued a “buy” rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.28.

Chime Financial Trading Down 4.7%

Shares of CHYM stock traded down $1.01 during trading hours 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 company 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 business’s 50 day simple moving average is $23.56 and its 200-day simple moving average is $22.60.

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

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.