Coinbase Global Inc (COIN) Shares Plummet Below 1-Year High

The stock of Coinbase Global Inc (NASDAQ: COIN) has decreased by -4.55 when compared to last closing price of 235.03. Despite this, the company has experienced a -9.41% fall in its stock price over the last five trading sessions. investorplace.com reported 2024-06-21 that I guess it’s okay to stop worrying about Federal Reserve interest rate cuts. While the stock market continued climbing to new all-time highs as we moved from possibly six cuts this year to three, then to one, new reports of much higher-than-expected industrial production in May suggests we may not get any cuts until next year.

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

The price-to-earnings ratio for Coinbase Global Inc (NASDAQ: COIN) is above average at 44.81x, Company’s 36-month beta value is 3.41.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for COIN is 188.28M, and currently, short sellers hold a 5.29% ratio of that floaft. The average trading volume of COIN on June 21, 2024 was 9.16M shares.

COIN’s Market Performance

The stock of Coinbase Global Inc (COIN) has seen a -9.41% decrease in the past week, with a -0.64% drop in the past month, and a -14.37% fall in the past quarter. The volatility ratio for the week is 5.24%, and the volatility levels for the past 30 days are at 6.22% for COIN. The simple moving average for the last 20 days is -6.83% for COIN stock, with a simple moving average of 38.03% 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 $217 based on the research report published on May 17, 2024 of the current year 2024.

BofA Securities, on the other hand, stated in their research note that they expect to see COIN reach a price target of $110, previously predicting the price at $92. The rating they have provided for COIN stocks is “Underperform” according to the report published on April 10th, 2024.

Barclays gave a rating of “Underweight” to COIN, setting the target price at $179 in the report published on April 08th of the current year.

COIN Trading at -1.91% 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 -20.86% of loss for the given period.

Volatility was left at 6.22%, however, over the last 30 days, the volatility rate increased by 5.24%, as shares sank -3.52% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.01% lower at present.

During the last 5 trading sessions, COIN fell by -9.80%, which changed the moving average for the period of 200-days by +188.21% in comparison to the 20-day moving average, which settled at $240.38. In addition, Coinbase Global Inc saw 28.99% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at COIN starting from HAAS ALESIA J, who sale 4,350 shares at the price of $239.10 back on Jun 17 ’24. After this action, HAAS ALESIA J now owns 187,403 shares of Coinbase Global Inc, valued at $1,040,087 using the latest closing price.

Choi Emilie, the President & COO of Coinbase Global Inc, sale 1,500 shares at $246.16 during a trade that took place back on Jun 14 ’24, which means that Choi Emilie is holding 207,471 shares at $369,240 based on the most recent closing price.

Stock Fundamentals for COIN

Current profitability levels for the company are sitting at:

  • 0.18 for the present operating margin
  • 0.81 for the gross margin

The net margin for Coinbase Global Inc stands at 0.34. The total capital return value is set at 0.06. Equity return is now at value 19.63, with 0.55 for asset returns.

Based on Coinbase Global Inc (COIN), the company’s capital structure generated 0.34 points at debt to capital in total, while cash flow to debt ratio is standing at 0.25. The debt to equity ratio resting at 0.52. The interest coverage ratio of the stock is 8.86.

Currently, EBITDA for the company is 66.86 million with net debt to EBITDA at -2.72. When we switch over and look at the enterprise to sales, we see a ratio of 13.25. The receivables turnover for the company is 3.55for trailing twelve months and the total asset turnover is 0.01.

Conclusion

In a nutshell, Coinbase Global Inc (COIN) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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