Harraden Circle Investments LLC Acquires New Stake in CoinShares $CSHR

Harraden Circle Investments LLC acquired a new stake in shares of CoinShares (NASDAQ:CSHR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,200,804 shares of the company’s stock, valued at approximately $12,067,000. Harraden Circle Investments LLC owned 2.43% of CoinShares at the end of the most recent quarter.

Separately, Lineage Point Capital LP bought a new stake in shares of CoinShares in the second quarter valued at $222,000.

CoinShares Stock Performance

Shares of NASDAQ CSHR opened at $5.80 on Friday. CoinShares has a fifty-two week low of $3.51 and a fifty-two week high of $10.43. The stock has a market capitalization of $764.32 million, a PE ratio of 32.22 and a beta of -1.51. The company has a fifty day moving average of $4.79.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSHR. Keefe, Bruyette & Woods cut their price target on CoinShares from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Wall Street Zen upgraded CoinShares from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings assumed coverage on shares of CoinShares in a report on Friday, June 26th. They set a “sell (e-)” rating on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CoinShares presently has an average rating of “Hold” and an average target price of $7.00.

About CoinShares

CoinShares is a digital asset investment company that provides a range of financial products and services focused on cryptocurrency and blockchain-related markets. The company offers exchange-traded products and other investment vehicles designed to give institutional and retail investors exposure to digital assets without needing to directly hold the underlying cryptocurrencies.

Founded in the digital asset space, CoinShares has built its business around investment management, asset servicing, and research related to the crypto ecosystem.