Short Interest in Circle Internet Group, Inc. (NYSE:CRCL) Expands By 55.4%

Circle Internet Group, Inc. (NYSE:CRCL) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 22,739,611 shares, an increase of 55.4% from the January 15th total of 14,636,079 shares. Based on an average trading volume of 11,164,657 shares, the days-to-cover ratio is presently 2.0 days. Currently, 9.7% of the shares of the stock are sold short. Currently, 9.7% of the shares of the stock are sold short. Based on an average trading volume of 11,164,657 shares, the days-to-cover ratio is presently 2.0 days.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL traded up $3.53 during trading hours on Friday, hitting $60.16. The stock had a trading volume of 11,990,578 shares, compared to its average volume of 11,397,182. The stock’s fifty day simple moving average is $75.20 and its 200 day simple moving average is $106.20. The firm has a market capitalization of $14.17 billion and a price-to-earnings ratio of -26.27. Circle Internet Group has a 1-year low of $49.90 and a 1-year high of $298.99.

Circle Internet Group (NYSE:CRCL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $739.76 million during the quarter. Circle Internet Group’s revenue for the quarter was up 65.9% compared to the same quarter last year.

Insiders Place Their Bets

In related news, Director Patrick Sean Neville sold 5,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $90.00, for a total transaction of $450,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Allaire sold 758 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.07, for a total transaction of $68,273.06. Following the completion of the transaction, the chief executive officer directly owned 66,757 shares of the company’s stock, valued at $6,012,802.99. The trade was a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 396,418 shares of company stock valued at $31,040,956.

Institutional Investors Weigh In On Circle Internet Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. General Catalyst Group Management LLC acquired a new position in Circle Internet Group during the 2nd quarter valued at about $3,647,694,000. Marshall Wace LLP bought a new position in shares of Circle Internet Group in the second quarter valued at approximately $1,547,214,000. IDG Accel China Capital II Associates L.P. acquired a new position in shares of Circle Internet Group during the fourth quarter valued at approximately $554,792,000. Accel XI Associates L.L.C. bought a new stake in Circle Internet Group during the fourth quarter worth approximately $513,844,000. Finally, ARK Investment Management LLC acquired a new stake in Circle Internet Group in the second quarter worth approximately $530,165,000.

Analysts Set New Price Targets

CRCL has been the topic of a number of research reports. Wall Street Zen downgraded Circle Internet Group from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Monness Crespi & Hardt started coverage on Circle Internet Group in a research report on Monday, November 10th. They set a “buy” rating and a $150.00 target price on the stock. Morgan Stanley initiated coverage on Circle Internet Group in a report on Monday, February 2nd. They issued an “equal weight” rating and a $66.00 price target for the company. Compass Point upgraded Circle Internet Group from a “sell” rating to a “neutral” rating and set a $75.00 price objective on the stock in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Circle Internet Group from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Circle Internet Group currently has a consensus rating of “Hold” and an average target price of $131.76.

Circle Internet Group Company Profile

Circle Internet Group (NYSE: CRCL) is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USD Coin (USDC), a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.