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Daily High to Daily Low: Is It Safe to Buy Coinbase Global Inc. (COIN)?

Coinbase Global Inc. (NASDAQ:COIN) went up by 5.02% from its latest closing price compared to the recent 1-year high of $331.70. The company’s stock price has collected -6.68% of loss in the last five trading sessions. Barron’s reported on 11/16/22 that How FTX’s Bankruptcy Could Be Good News for Coinbase

Is It Worth Investing in Coinbase Global Inc. (NASDAQ :COIN) Right Now?

Opinions of the stock are interesting as 11 analysts out of 29 who provided ratings for Coinbase Global Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 12 rated it as “hold,” and 5 as “sell.”

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COIN currently public float of 175.61M and currently shorts hold a 15.00% ratio of that float. Today, the average trading volume of COIN was 13.62M shares.

COIN’s Market Performance

COIN stocks went down by -6.68% for the week, with a monthly drop of -39.28% and a quarterly performance of -36.15%, while its annual performance rate touched -85.63%. The volatility ratio for the week stands at 9.44% while the volatility levels for the past 30 days are set at 10.94% for Coinbase Global Inc. The simple moving average for the period of the last 20 days is -18.74% for COIN stocks with a simple moving average of -53.26% for the last 200 days.

Analysts’ Opinion of COIN

Many brokerage firms have already submitted their reports for COIN stocks, with BofA Securities repeating the rating for COIN by listing it as a “Neutral.” The predicted price for COIN in the upcoming period, according to BofA Securities is $50 based on the research report published on November 18th of the current year 2022.

Daiwa Securities, on the other hand, stated in their research note that they expect to see COIN reach a price target of $52, previously predicting the price at $82. The rating they have provided for COIN stocks is “Neutral” according to the report published on November 09th, 2022.

Wells Fargo gave a rating of “Underweight” to COIN, setting the target price at $57 in the report published on September 29th of the current year.

COIN Trading at -28.02% from the 50-Day Moving Average

After a stumble in the market that brought COIN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -86.26% of loss for the given period.

Volatility was left at 10.94%, however, over the last 30 days, the volatility rate increased by 9.44%, as shares sank -38.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -42.10% lower at present.

During the last 5 trading sessions, COIN fell by -6.68%, which changed the moving average for the period of 200-days by -78.17% in comparison to the 20-day moving average, which settled at $54.67. In addition, Coinbase Global Inc. saw -81.94% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at COIN starting from Lutke Tobias, who purchase 8,974 shares at the price of $42.35 back on Nov 22. After this action, Lutke Tobias now owns 115,872 shares of Coinbase Global Inc., valued at $380,049 using the latest closing price.

HAAS ALESIA J, the Chief Financial Officer of Coinbase Global Inc., sale 103,859 shares at $42.44 during a trade that took place back on Nov 22, which means that HAAS ALESIA J is holding 92,317 shares at $4,408,278 based on the most recent closing price.

Stock Fundamentals for COIN

Equity return is now at value -18.40, with -1.70 for asset returns.

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