Chime Financial (NASDAQ:CHYM) Reaches New 52-Week Low Following Insider Selling

Shares of Chime Financial, Inc. (NASDAQ:CHYM) hit a new 52-week low during trading on Thursday after an insider sold shares in the company. The company traded as low as $15.88 and last traded at $16.4360, with a volume of 383238 shares changing hands. The stock had previously closed at $16.44.

Specifically, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $18.00, for a total transaction of $54,000.00. Following the sale, the general counsel directly owned 306,795 shares in the company, valued at approximately $5,522,310. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

Several research firms have recently issued reports on CHYM. BMO Capital Markets began coverage on Chime Financial in a research note on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target for the company. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research report on Monday, May 11th. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chime Financial presently has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Chime Financial Stock Performance

The company has a market cap of $6.23 billion and a PE ratio of -2.20. The company has a 50 day simple moving average of $19.62 and a two-hundred day simple moving average of $21.94.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $647.39 million during the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The firm’s revenue was up 24.8% on a year-over-year basis. As a group, analysts expect that Chime Financial, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the second quarter valued at $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the 2nd quarter worth about $34,000. PNC Financial Services Group Inc. acquired a new position in Chime Financial during the 4th quarter valued at about $25,000. Daiwa Securities Group Inc. bought a new position in shares of Chime Financial in the 2nd quarter valued at about $40,000. Finally, Osaic Holdings Inc. acquired a new stake in shares of Chime Financial during the 2nd quarter worth approximately $45,000.

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.