CoinShares (NASDAQ:CSHR) Stock Bumped Down to “Sell” by Wall Street Zen

Wall Street Zen lowered shares of CoinShares (NASDAQ:CSHR) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on CSHR. Keefe, Bruyette & Woods lifted their price objective on shares of CoinShares from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, September 15th. Weiss Ratings raised shares of CoinShares from a “sell (e-)” rating to a “sell (e)” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CoinShares has an average rating of “Hold” and an average price target of $9.00.

CoinShares Trading Down 5.1%

NASDAQ CSHR opened at $3.88 on Friday. The company has a fifty day simple moving average of $5.26. CoinShares has a 12-month low of $3.51 and a 12-month high of $10.43. The firm has a market cap of $511.31 million, a P/E ratio of 21.56 and a beta of -1.39.

CoinShares (NASDAQ:CSHR) last announced its quarterly earnings results on Monday, September 14th. The company reported ($0.10) EPS for the quarter. The business had revenue of $7.43 million for the quarter.

Institutional Investors Weigh In On CoinShares

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new stake in CoinShares in the 2nd quarter valued at about $85,000. Lineage Point Capital LP purchased a new position in shares of CoinShares in the 2nd quarter worth approximately $222,000. Harraden Circle Investments LLC purchased a new position in shares of CoinShares in the 2nd quarter worth approximately $12,067,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of CoinShares in the second quarter valued at approximately $28,519,000.

About CoinShares

CoinShares (NASDAQ: CSHR) is a digital asset investment firm that provides investment products and services focused on cryptocurrencies and blockchain technology. The company helps institutional and professional investors gain exposure to digital assets through exchange-traded products, funds and other investment solutions.

Its offerings include physically backed cryptocurrency exchange-traded products, index-based products and actively managed strategies. CoinShares also provides capital-markets and advisory services, including liquidity, trading and structured-investment solutions for digital asset businesses and investors.