Coinbase Global Inc (NASDAQ:COIN) price closed lower on Tuesday, March 26, dropping -4.61% below its previous close.
A look at the daily price movement shows that the last close reads $279.71. The company’s 5Y monthly beta was ticking 3.37 while its P/E ratio in the trailing 12-month period read 990.02. Taking into account the 52-week price action we note that the stock hit a 52-week high of $283.48 and 52-week low of $46.43. The stock added 37.57% on its value in the past month.
Coinbase Global Inc, which has a market valuation of $64.64 billion, is expected to release its quarterly earnings report May 02, 2024 – May 06, 2024.
Staying with the analyst view, there is a consensus estimate of $680k for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow -32.50% below that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give COIN a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
The overview shows that COIN’s price is at present 12.22% off the SMA20 and 48.78% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 64.67, with weekly volatility standing at 7.77%. The indicator jumps to 8.05% when calculated based on the past 30 days. Coinbase Global Inc (NASDAQ:COIN)’s beta value is holding at 3.42, while the average true range (ATR) indicator is currently reading 18.56.
An analysis of the Coinbase Global Inc (NASDAQ:COIN) stock in terms of its daily trading volume indicates that the 3-month average is 15.30 million. However, this figure increases on the past 10-day timeline to an average of 14.0 million.
Current records show that the company has 195.19M in outstanding shares. The insiders’ percentage holdings are 30.05% of outstanding shares while the percentage share held by institutions stands at 39.90%. The stats also highlight that short interest as of Feb 29, 2024, stood at 12.92 million shares, which puts the short ratio at the time at 0.9. From this we can glean that short interest is 5.33% of company’s current outstanding shares. Notably, we see that shares short in February fall slightly given the previous month’s figure stood at 17.58 million. But the 53.41% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
