Circle Internet Group Inc (NYSE:CRCL) stock is gapping lower, last seen down 7.8% to trade at $112.28 following reports that Michelle Burns -- who has served as a member of the cryptocurrency name's board of directors since 2013 -- sold 11,666 shares going into its quarterly report. Circle will announce first-quarter results before the open on Monday, May 11.
Traded publicly for less than a year, the company has only three earnings reports under its belt, with shares finishing higher after two. This includes 35.5% post-earnings pop in February. The options market is pricing in an 14% move this time around, regardless of direction, which is slightly smaller than the 16.3% swing CRCL has averaged after its three reports.
CRCL sports a 41.7 % lead for 2026, though a bounce off the supportive 80-day moving average appears to be losing steam at the $120 level. Shares in March hit their highest level since October, though.
Analysts are skeptical, with 12 of the 24 in coverage sporting a "hold" or worse rating. Plus, short interest is on the rise, up 22.4% in the last two reporting periods. The 25.30 million shares sold short currently make up an elevated 12.2% of the equity's available float.
