Coinbase Global Inc. [NASDAQ: COIN] loss -0.74% or -0.55 points to close at $73.71 with a heavy trading volume of 4034745 shares. The company report on August 21, 2023 at 9:00 AM that Coinbase Announces Early Tender Results and an Increase in Consideration in Connection with Cash Tender Offer for Up to $150.0 Million Aggregate Purchase Price of its Outstanding 3.625% Senior Notes Due 2031.
Coinbase Global, Inc. (the “Company” or “Coinbase”) today announced the early tender results of its previously announced offer to purchase for cash (the “Tender Offer”) up to $150.0 million in aggregate purchase price (the “Maximum Tender Amount”), excluding accrued and unpaid interest, of its 3.625% Senior Notes due 2031 (the “Notes”).
The Company also announced that it has amended the terms of the Tender Offer to increase each of the Total Consideration and the Tender Consideration (as each term is defined in the Company’s offer to purchase, dated August 7, 2023 (the “Offer to Purchase”)) per $1,000 principal amount of Notes tendered and accepted for purchase pursuant to the Offer to Purchase to $675.00 (the “Amended Consideration”), which increase applies to all Notes that have been, or will be, tendered (and not validly withdrawn) and accepted for purchase (and, accordingly, to eliminate the Early Tender Premium (as defined in the Offer to Purchase)).
It opened the trading session at $74.57, the shares rose to $74.71 and dropped to $73.05, the range by which the price of stock traded the whole day. The daily chart for COIN points out that the company has recorded 25.02% gains over the past six months. However, it is still -133.63% lower than its most recent low trading price.
If we look at the average trading volume of 15.00M shares, COIN reached to a volume of 4034745 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Coinbase Global Inc. [COIN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COIN shares is $91.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COIN stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Canaccord Genuity have made an estimate for Coinbase Global Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 01, 2023.
The Average True Range (ATR) for Coinbase Global Inc. is set at 4.73, with the Price to Sales ratio for COIN stock in the period of the last 12 months amounting to 6.42. The Price to Book ratio for the last quarter was 3.00, with the Price to Cash per share for the same quarter was set at 21.96. Price to Free Cash Flow for COIN in the course of the last twelve months was 6.67 with Quick ratio for the last quarter at 1.00.
Trading performance analysis for COIN stock
Coinbase Global Inc. [COIN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.09. With this latest performance, COIN shares dropped by -22.21% in over the last four-week period, additionally plugging by 25.02% over the last 6 months – not to mention a rise of 3.28% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COIN stock in for the last two-week period is set at 37.67, with the RSI for the last a single of trading hit 33.00, and the three-weeks RSI is set at 42.35 for Coinbase Global Inc. [COIN]. The present Moving Average for the last 50 days of trading for this stock 82.95, while it was recorded at 74.86 for the last single week of trading, and 62.23 for the last 200 days.
Coinbase Global Inc. [COIN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Coinbase Global Inc. [COIN] shares currently have an operating margin of -61.02 and a Gross Margin at +80.28. Coinbase Global Inc.’s Net Margin is presently recorded at -82.18.
Return on Total Capital for COIN is now -20.69, given the latest momentum, and Return on Invested Capital for the company is -28.03. Return on Equity for this stock declined to -44.35, with Return on Assets sitting at -4.73. When it comes to the capital structure of this company, Coinbase Global Inc. [COIN] has a Total Debt to Total Equity ratio set at 64.47. Additionally, COIN Total Debt to Total Capital is recorded at 39.20, with Total Debt to Total Assets ending up at 3.92. Long-Term Debt to Equity for the company is recorded at 62.98, with the Long-Term Debt to Total Capital now at 38.29.
Reflecting on the efficiency of the workforce at the company, Coinbase Global Inc. [COIN] managed to generate an average of -$582,029 per employee. Receivables Turnover for the company is 6.93 with a Total Asset Turnover recorded at a value of 0.06.Coinbase Global Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
An analysis of Institutional ownership at Coinbase Global Inc. [COIN]
The top three institutional holders of COIN stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in COIN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in COIN stock with ownership which is approximately 5.7381%.