Chime Financial Sees Unusually Large Options Volume (NASDAQ:CHYM)

Chime Financial, Inc. (NASDAQ:CHYM) saw some unusual options trading activity on Friday. Traders acquired 8,838 call options on the stock. This represents an increase of approximately 198% compared to the typical volume of 2,963 call options.

Chime Financial Price Performance

Shares of Chime Financial stock traded up $1.95 during trading hours on Friday, reaching $20.22. The company had a trading volume of 3,697,982 shares, compared to its average volume of 4,349,346. Chime Financial has a one year low of $15.88 and a one year high of $38.67. The business has a fifty day simple moving average of $19.06 and a 200 day simple moving average of $21.63. The firm has a market cap of $7.70 billion and a PE ratio of -2.73.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company had revenue of $647.39 million for the quarter. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts forecast that Chime Financial will post 0.3 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the sale, the general counsel owned 303,795 shares in the company, valued at $5,316,412.50. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chime Financial

Several hedge funds have recently bought and sold shares of the company. Lunate Capital Ltd purchased a new stake in Chime Financial in the third quarter valued at approximately $36,503,000. Davis Selected Advisers bought a new stake in Chime Financial during the third quarter valued at approximately $48,391,000. Farther Finance Advisors LLC grew its stake in Chime Financial by 2,794.6% in the 4th quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock worth $1,821,000 after buying an additional 69,866 shares in the last quarter. Transcend Capital Advisors LLC purchased a new position in Chime Financial in the 4th quarter worth approximately $1,286,000. Finally, Baxter Bros Inc. bought a new position in shares of Chime Financial in the 4th quarter worth $2,799,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Wells Fargo & Company lifted their price objective on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Texas Capital upgraded Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 target price on shares of Chime Financial in a research report on Monday, May 11th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

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.