Coinbase Global Inc’s filing revealed that its Chairman and CEO Armstrong Brian unloaded Company’s shares for reported $5.91 million on Apr 04 ’24. In the deal valued at $256.30 per share,23,075 shares were sold. As a result of this transaction, Armstrong Brian now holds 526 shares worth roughly $0.14 million.
Then, Ehrsam Frederick Ernest III sold 16,380 shares, generating $3,985,236 in total proceeds. Upon selling the shares at $243.30, the Director now owns 0 shares.
Before that, Choi Emilie sold 8,000 shares. Coinbase Global Inc shares valued at $2,062,894 were divested by the President & COO at a price of $257.86 per share. As a result of the transaction, Choi Emilie now holds 216,851 shares, worth roughly $55.73 million.
Barclays reiterated its Coinbase Global Inc [COIN] rating to an Underweight in a research note published on April 08, 2024; the price target was $179. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who remained covering the stock and in early April has reiterated a ‘”an Outperform”‘ rating for it. Keefe Bruyette also remained covering COIN and reiterated its “Mkt perform” recommendation on April 03, 2024. Raymond James revised its rating on March 12, 2024. It rated COIN as “a Mkt perform” which previously was an “an Underperform”.
Price Performance Review of COIN
On Monday, Coinbase Global Inc [NASDAQ:COIN] saw its stock jump 6.68% to $256.99. Over the last five days, the stock has gained 1.94%. Coinbase Global Inc shares have risen nearly 47.76% since the year began. Nevertheless, the stocks have risen 322.82% over the past one year. While a 52-week high of $283.48 was reached on 03/25/24, a 52-week low of $46.43 was recorded on 02/07/24. SMA at 50 days reached $202.20, while 200 days put it at $125.65. A total of 9.99 million shares were traded, compared to the trading of 2.6 million shares in the previous session.
Levels Of Support And Resistance For COIN Stock
The 24-hour chart illustrates a support level at 250.57, which if violated will result in even more drops to 244.15. On the upside, there is a resistance level at 262.52. A further resistance level may holdings at 268.05. The Relative Strength Index (RSI) on the 14-day chart is 57.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.35%. Stochastics %K at 49.03% indicates the stock is a holding.
How much short interest is there in Coinbase Global Inc?
A steep rise in short interest was recorded in Coinbase Global Inc stocks on Mar 15, 2024, dropping by -4.51 million shares to a total of 11.31 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 15.82 million shares. There was a decline of -39.88%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.43% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.62.
