Investors Purchase High Volume of Chime Financial Call Options (NASDAQ:CHYM)

Chime Financial, Inc. (NASDAQ:CHYM) was the recipient of some unusual options trading activity on Friday. Investors purchased 8,838 call options on the company. This is an increase of approximately 198% compared to the average volume of 2,963 call options.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CHYM. Wells Fargo & Company raised their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and reduced their target price for the company from $33.00 to $27.00 in a report on Monday, April 13th. BMO Capital Markets began coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.65.

Chime Financial Trading Up 11.2%

Chime Financial stock opened at $20.31 on Friday. Chime Financial has a 12-month low of $15.88 and a 12-month high of $38.67. The firm has a market capitalization of $7.74 billion and a price-to-earnings ratio of -2.73. The firm has a 50 day moving average of $19.00 and a 200 day moving average of $21.62.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $647.39 million for the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, analysts predict that Chime Financial will post 0.3 EPS for the current year.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the sale, the general counsel directly owned 303,795 shares in the company, valued at $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Lunate Capital Ltd bought a new position in shares of Chime Financial in the third quarter worth about $36,503,000. Davis Selected Advisers bought a new stake in Chime Financial during the 3rd quarter valued at approximately $48,391,000. Farther Finance Advisors LLC raised its stake in Chime Financial by 2,794.6% during the 4th quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock valued at $1,821,000 after purchasing an additional 69,866 shares during the period. Transcend Capital Advisors LLC purchased a new position in Chime Financial in the 4th quarter worth approximately $1,286,000. Finally, Baxter Bros Inc. purchased a new position in Chime Financial in the 4th quarter worth approximately $2,799,000.

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.