Circle Internet Group, Inc. (NYSE:CRCL) Sees Significant Increase in Short Interest

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 company are sold short. Based on an average trading volume of 11,164,657 shares, the short-interest ratio is presently 2.0 days. Based on an average trading volume of 11,164,657 shares, the short-interest ratio is presently 2.0 days. Currently, 9.7% of the shares of the company are sold short.

Insider Buying and Selling at Circle Internet Group

In other news, insider Nikhil Chandhok sold 100,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $77.08, for a total transaction of $7,708,000.00. Following the transaction, the insider directly owned 493,639 shares of the company’s stock, valued at $38,049,694.12. This represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rajeev V. Date sold 127,247 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $72.29, for a total transaction of $9,198,685.63. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 396,418 shares of company stock valued at $31,040,956.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Circle Internet Group in the 4th quarter valued at approximately $25,000. Larson Financial Group LLC increased its stake in shares of Circle Internet Group by 3,800.0% in the third quarter. Larson Financial Group LLC now owns 195 shares of the company’s stock worth $26,000 after buying an additional 190 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Circle Internet Group in the third quarter valued at $27,000. EverSource Wealth Advisors LLC bought a new position in Circle Internet Group during the 2nd quarter valued at $27,000. Finally, Bellevue Asset Management LLC acquired a new position in Circle Internet Group during the 4th quarter worth $29,000.

Circle Internet Group Price Performance

CRCL stock traded up $3.53 during midday trading on Friday, reaching $60.16. 11,990,578 shares of the company’s stock traded hands, compared to its average volume of 11,292,567. Circle Internet Group has a fifty-two week low of $49.90 and a fifty-two week high of $298.99. The business has a 50-day moving average price of $75.20 and a two-hundred day moving average price of $107.32. The company has a market capitalization of $14.17 billion and a P/E ratio of -26.27.

Circle Internet Group (NYSE:CRCL) last announced its earnings results on Wednesday, November 12th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.20 by $0.44. The company had revenue of $739.76 million for the quarter. The company’s quarterly revenue was up 65.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird upgraded Circle Internet Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Wolfe Research initiated coverage on Circle Internet Group in a report on Tuesday, December 2nd. They issued an “underperform” rating and a $60.00 price target for the company. HC Wainwright began coverage on Circle Internet Group in a research report on Friday, December 19th. They issued a “neutral” rating and a $85.00 price objective on the stock. Needham & Company LLC dropped their price objective on Circle Internet Group from $250.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Circle Internet Group from $147.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Circle Internet Group has a consensus rating of “Hold” and an average price target 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.