Coincheck Group N.V. (NASDAQ:CNCK) Short Interest Update

Coincheck Group N.V. (NASDAQ:CNCK) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 1,023,026 shares, a growth of 259.1% from the April 30th total of 284,853 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average trading volume of 4,810,300 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Kepos Capital LP bought a new position in Coincheck Group during the 4th quarter worth approximately $661,000. Geode Capital Management LLC grew its position in Coincheck Group by 570.9% during the 4th quarter. Geode Capital Management LLC now owns 265,451 shares of the company’s stock worth $669,000 after purchasing an additional 225,882 shares during the period. Ghisallo Capital Management LLC grew its position in Coincheck Group by 23.5% during the 4th quarter. Ghisallo Capital Management LLC now owns 1,055,172 shares of the company’s stock worth $2,659,000 after purchasing an additional 200,930 shares during the period. Balyasny Asset Management L.P. grew its position in Coincheck Group by 120.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock worth $696,000 after purchasing an additional 69,377 shares during the period. Finally, HRT Financial LP acquired a new stake in Coincheck Group during the 4th quarter worth about $132,000. 33.22% of the stock is currently owned by institutional investors.

Coincheck Group Price Performance

Shares of CNCK traded down $0.08 during midday trading on Friday, reaching $1.89. The stock had a trading volume of 126,156 shares, compared to its average volume of 705,241. Coincheck Group has a 52 week low of $1.40 and a 52 week high of $9.31. The company has a market capitalization of $257.45 million, a P/E ratio of 94.75 and a beta of 0.47. The firm’s 50 day moving average price is $1.85 and its 200-day moving average price is $2.59.

Coincheck Group (NASDAQ:CNCK) last issued its 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 12.42% and a negative net margin of 0.38%. On average, equities analysts forecast that Coincheck Group will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a report on Friday, May 22nd. Cantor Fitzgerald reduced their target price on Coincheck Group from $2.70 to $2.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Coincheck Group from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Coincheck Group currently has an average rating of “Hold” and an average target price of $3.75.

About Coincheck Group

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.