Coinbase Global Inc. (NASDAQ:COIN) finished Thursday with a subtraction of -$4.12 to close at $73.66, a downside of -5.30 percent. An average of 7,181,840 shares of common stock have been traded in the last five days. There was a fall of -$1.90 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 8,530,655 shares traded, while the 50-day average volume stands at 14,684,484.
COIN stock has decreased by -26.16% in the last month. The company shares reached their 1-month lowest point of $72.10 on 08/21/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $31.55 and a high of $114.43 in 52 weeks. It has reached a new high 16 times so far this year and achieved 108.14% or $38.27 in price. In spite of this, the price is down -35.63% from the 52-week high.
Insider Transactions
COIN stock investors should be aware that Coinbase Global Inc. (COIN) stock had its last reported insider trading activity 8 days ago on Aug 17. In this transaction, the insider spent $89,745. Chairman and CEO, Armstrong Brian, disposed of 29,725 shares at a price of $92.20 on Aug 01. The insider now owns more than $2,740,709 worth of shares. Prior to that, Chairman and CEO Armstrong Brian went on to Sale 59,460 shares at $105.69 each on Jul 18. An amount of $6,284,288 was transacted.
Valuation Metrics
Coinbase Global Inc. (COIN) stock’s beta is 2.77. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 6.68, the price-to-book (PB) ratio at 3.00, and the price-to-cash flow ratio at 6.94.
Financial Health
The quick ratio of Coinbase Global Inc. for the three months ended March 30 was 1.00, and the current ratio was 1.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.58 and a total debt to equity ratio of 0.58 for the quarter ending March 30. Its gross profit as reported stood at $2.56 billion compared to revenue of $3.19 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Coinbase Global Inc.’s return on assets was -1.10%.
Earnings Surprise
For the three-month period that ended March 30, Coinbase Global Inc. had $3.33 billion in total debt. The analyst consensus anticipated Coinbase Global Inc.’s latest quarter earnings to come in at $0 per share, but it turned out to be $0.03. For the quarter, EBITDA amounted to -$34.35 million. Shareholders own equity worth $237.18 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Coinbase Global Inc. (COIN) price momentum. RSI 9-day as of the close on 24 August was 31.96%, suggesting the stock is Neutral, with historical volatility in this time frame at 45.38%.
As of today, COIN’s price is $74.96 -2.51% or -$1.90 from its 5-day moving average. COIN is currently trading -20.53% lower than its 20-day SMA and +9.01% higher than its 100-day SMA. However, the stock’s current price level is +40.57% above the SMA50 and +25.23% above the SMA200.
The stochastic %K and %D were 15.81% and 14.39%, respectively, and the average true range (ATR) was 4.66. With the 14-day stochastic at 9.23% and the average true range at 5.11, the RSI (14) stands at 37.21%. The stock has reached -1.15 on the 9-day MACD Oscillator while the 14-day reading was at -3.99.
Analyst Ratings
Canaccord Genuity reiterated its a Buy rating on Coinbase Global Inc. (NASDAQ: COIN), but raised their price target to $70, indicating a potential price decrease of -5.23% for the stock.
