Investors Buy Large Volume of Chime Financial Call Options (NASDAQ:CHYM)

Chime Financial, Inc. (NASDAQ:CHYM) was the target of some unusual options trading on Friday. Stock traders bought 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

Several equities analysts have recently commented on the company. UBS Group increased their price objective on Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research report on Monday, May 11th. Wells Fargo & Company increased their price target on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the sale, the general counsel owned 303,795 shares in the company, valued at $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CHYM. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial in the second quarter worth $33,000. Scopus Asset Management L.P. purchased a new stake in Chime Financial during the 2nd quarter valued at $34,000. PNC Financial Services Group Inc. purchased a new stake in Chime Financial during the 4th quarter valued at $25,000. Daiwa Securities Group Inc. bought a new stake in Chime Financial in the 2nd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after acquiring an additional 1,276 shares during the period.

Chime Financial Stock Up 10.7%

Shares of CHYM traded up $1.95 during trading hours on Friday, hitting $20.22. The company had a trading volume of 3,697,982 shares, compared to its average volume of 4,349,346. Chime Financial has a 52-week low of $15.88 and a 52-week high of $38.67. The stock’s 50 day moving average price is $19.06 and its 200 day moving average price is $21.63. The firm has a market cap of $7.70 billion and a P/E ratio of -2.73.

Chime Financial (NASDAQ:CHYM) last issued its 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. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company had revenue of $647.39 million during the quarter. The business’s revenue was up 24.8% on a year-over-year basis. On average, research analysts expect that Chime Financial will post 0.3 EPS for the current fiscal year.

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.