Chime Financial (NASDAQ:CHYM) Stock Price Down 9.3% – Should You Sell?

Shares of Chime Financial, Inc. (NASDAQ:CHYM) were down 9.3% during mid-day trading on Tuesday . The company traded as low as $17.90 and last traded at $17.94. Approximately 926,774 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 3,948,006 shares. The stock had previously closed at $19.78.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a research report on Monday, January 26th. The Goldman Sachs Group upped their target price on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. UBS Group boosted their price target on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Finally, KeyCorp began coverage on Chime Financial in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 target price for the company. Two 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.28.

Chime Financial Price Performance

The company has a market cap of $7.12 billion and a P/E ratio of -2.45. The company has a 50 day moving average of $22.59 and a 200-day moving average of $22.32.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.The business had revenue of $596.36 million during the quarter. During the same period in the prior year, the business posted ($0.30) EPS. The business’s quarterly revenue was up 25.5% compared to the same quarter last year.

Insider Transactions at Chime Financial

In related news, CEO Christopher R. Britt sold 50,000 shares of Chime Financial stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Adam B. Frankel sold 4,382 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were 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 $5,717,255. This represents a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 64,882 shares of company stock worth $1,816,685 over the last quarter.

Institutional Trading of Chime Financial

Several large investors have recently modified their holdings of CHYM. Hsbc Holdings PLC purchased a new stake in Chime Financial during the fourth quarter valued at $1,274,000. Vident Advisory LLC bought a new stake in shares of Chime Financial during the 4th quarter valued at about $645,000. Delta Global Management LP grew its stake in shares of Chime Financial by 1,868.5% during the 4th quarter. Delta Global Management LP now owns 729,383 shares of the company’s stock valued at $18,359,000 after purchasing an additional 692,330 shares during the period. NewEdge Advisors LLC increased its position in shares of Chime Financial by 8,791.5% during the 4th quarter. NewEdge Advisors LLC now owns 17,783 shares of the company’s stock valued at $448,000 after purchasing an additional 17,583 shares during the last quarter. Finally, VARCOV Co. bought a new position in shares of Chime Financial in the 4th quarter worth approximately $1,348,000.

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.