Coincheck Group N.V. (NASDAQ:CNCK) Receives Average Rating of “Reduce” from Brokerages

Shares of Coincheck Group N.V. (NASDAQ:CNCK) have earned a consensus rating of “Reduce” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $3.75.

CNCK has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a research note on Friday, May 22nd. Cantor Fitzgerald decreased their price target on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Zacks Research lowered shares of Coincheck Group from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, Wall Street Zen upgraded Coincheck Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th.

Hedge Funds Weigh In On Coincheck Group

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in Coincheck Group in the 1st quarter valued at $94,000. Geode Capital Management LLC raised its holdings in Coincheck Group by 76.1% during the second quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock worth $202,000 after buying an additional 15,983 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Coincheck Group in the second quarter valued at $192,000. Balyasny Asset Management L.P. grew its holdings in shares of Coincheck Group by 120.0% during the second quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock valued at $696,000 after buying an additional 69,377 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Coincheck Group by 22.3% during the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock worth $133,000 after acquiring an additional 5,257 shares in the last quarter. 33.22% of the stock is owned by institutional investors and hedge funds.

Coincheck Group Trading Up 5.2%

CNCK stock opened at $2.24 on Friday. The firm has a market cap of $304.48 million, a PE ratio of -24.89 and a beta of 0.45. The stock has a 50-day moving average price of $1.93 and a 200-day moving average price of $2.21. Coincheck Group has a 1-year low of $1.39 and a 1-year high of $9.31.

Coincheck Group (NASDAQ:CNCK) last released its earnings results on Monday, June 29th. The company reported ($0.06) EPS for the quarter. The business had revenue of $752.40 million for the quarter. Coincheck Group had a negative return on equity of 12.42% and a negative net margin of 0.38%.

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.