Cantor Fitzgerald Cuts Coincheck Group (NASDAQ:CNCK) Price Target to $2.50

Coincheck Group (NASDAQ:CNCK) had its target price decreased by investment analysts at Cantor Fitzgerald from $2.70 to $2.50 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 34.05% from the company’s previous close.

Separately, Wall Street Zen raised Coincheck Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.75.

Coincheck Group Trading Down 9.5%

Shares of CNCK opened at $1.87 on Wednesday. The firm has a market capitalization of $253.51 million, a P/E ratio of 92.80 and a beta of 0.47. Coincheck Group has a twelve month low of $1.39 and a twelve month high of $9.31. The stock’s fifty day simple moving average is $1.92 and its 200 day simple moving average is $2.74.

Coincheck Group (NASDAQ:CNCK) last released its quarterly earnings results on Tuesday, May 12th. The company reported $999.00 earnings per share for the quarter. Coincheck Group had a negative return on equity of 0.26% and a negative net margin of 0.01%. Sell-side analysts predict that Coincheck Group will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Coincheck Group

A number of hedge funds have recently bought and sold shares of CNCK. Goldman Sachs Group Inc. bought a new stake in Coincheck Group in the first quarter valued at about $94,000. Geode Capital Management LLC grew its position in shares of Coincheck Group by 76.1% in the 2nd quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock worth $202,000 after acquiring an additional 15,983 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Coincheck Group in the 2nd quarter worth approximately $192,000. Balyasny Asset Management L.P. increased its holdings in shares of Coincheck Group by 120.0% in the 2nd quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock valued at $696,000 after acquiring an additional 69,377 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Coincheck Group by 22.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock valued at $133,000 after acquiring an additional 5,257 shares during the last quarter. 33.22% of the stock is currently owned by institutional investors and hedge funds.

Coincheck Group Company Profile

Coincheck Group (NASDAQ:CNCK) is a digital asset platform specializing in cryptocurrency trading and blockchain-based financial services. Headquartered in Tokyo, Japan, Coincheck operates one of the country’s largest cryptocurrency exchanges, offering a suite of services for both retail and institutional clients. Its platform supports spot trading of major digital assets such as Bitcoin, Ethereum and a variety of altcoins, complemented by secure wallet solutions and a range of order types designed to meet diverse trading needs.

Originally established in 2012, Coincheck gained early prominence in Japan’s evolving digital currency market.