CoinShares (NASDAQ:CSHR) Sees Large Growth in Short Interest

CoinShares (NASDAQ:CSHR) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 831,802 shares, a growth of 106.0% from the April 30th total of 403,830 shares. Based on an average trading volume of 405,086 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.6% of the shares of the company are sold short.

Analyst Ratings Changes

CSHR has been the subject of several research analyst reports. Keefe, Bruyette & Woods initiated coverage on CoinShares in a research note on Wednesday, May 13th. They set an “outperform” rating and a $9.00 target price for the company. Wall Street Zen upgraded CoinShares from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.00.

CoinShares Stock Down 5.2%

Shares of NASDAQ CSHR opened at $4.37 on Wednesday. The company has a market cap of $575.88 million, a PE ratio of 25.61 and a beta of -1.68. CoinShares has a 12 month low of $4.37 and a 12 month high of $10.43.

CoinShares Company Profile

CoinShares is a digital asset investment company that provides a range of financial products and services focused on cryptocurrency and blockchain-related markets. The company offers exchange-traded products and other investment vehicles designed to give institutional and retail investors exposure to digital assets without needing to directly hold the underlying cryptocurrencies.

Founded in the digital asset space, CoinShares has built its business around investment management, asset servicing, and research related to the crypto ecosystem.