Coinbase Global (NASDAQ:COIN) Sees Large Growth in Short Interest

Coinbase Global, Inc. (NASDAQ:COIN) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 9,880,000 shares, a growth of 7.6% from the November 15th total of 9,180,000 shares. Approximately 5.1% of the company's shares are sold short. Based on an average daily volume of 12,880,000 shares, the days-to-cover ratio is currently 0.8 days.

Coinbase Global (NASDAQ:COIN) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 9,880,000 shares, a growth of 7.6% from the November 15th total of 9,180,000 shares. Approximately 5.1% of the company's shares are sold short. Based on an average daily volume of 12,880,000 shares, the days-to-cover ratio is currently 0.8 days.

Coinbase Global (NASDAQ:COIN) shares rose $4.73 and closed at $315.31 on Monday. A total of 11,434,341 shares were traded during the session, compared to the average daily volume of 11,260,563 shares. The cryptocurrency exchange last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the prior year, the company posted ($0.01) EPS. The firm's revenue was up 78.8% year-over-year. As a group, equities research analysts anticipate that Coinbase Global will post 4.44 EPS for the current fiscal year.

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.