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

Chime Financial, Inc. (NASDAQ:CHYM) shares reached a new 52-week low during mid-day trading on Thursday following insider selling activity. 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 Chime Financial stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $18.00, for a total transaction of $54,000.00. Following the completion of the sale, the general counsel directly owned 306,795 shares in the company, valued at approximately $5,522,310. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of research firms recently weighed in on CHYM. Weiss Ratings restated a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. KeyCorp assumed coverage on Chime Financial in a research report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a report on Monday, May 11th. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Finally, UBS Group lifted their target price on Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. Four equities research 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 issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

Chime Financial Stock Performance

The firm has a fifty day moving average of $19.62 and a 200-day moving average of $21.94. The stock has a market capitalization of $6.23 billion and a price-to-earnings ratio of -2.20.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was up 24.8% compared to the same quarter last year. On average, analysts predict that Chime Financial, Inc. will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in Chime Financial during the 2nd quarter worth $693,000. Legal & General Group Plc purchased a new stake in shares of Chime Financial during the second quarter worth about $136,000. Russell Investments Group Ltd. acquired a new position in shares of Chime Financial in the second quarter worth about $958,000. EverSource Wealth Advisors LLC purchased a new position in Chime Financial in the second quarter valued at about $33,000. Finally, Marshall Wace LLP acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $9,087,000.

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.