Coincheck Group (NASDAQ:CNCK) Shares Gap Down – What’s Next?

Coincheck Group N.V. (NASDAQ:CNCK)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $7.88, but opened at $6.13. Coincheck Group shares last traded at $6.12, with a volume of 568,400 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CNCK shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $6.00 target price (down previously from $9.00) on shares of Coincheck Group in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a research report on Monday, November 24th. Finally, Wall Street Zen upgraded shares of Coincheck Group from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 17th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $6.00.

Coincheck Group Stock Performance

The stock has a fifty day simple moving average of $4.14 and a two-hundred day simple moving average of $4.85. The stock has a market cap of $739.29 million, a PE ratio of -6.55 and a beta of 0.07.

Institutional Investors Weigh In On Coincheck Group

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new position in Coincheck Group in the 1st quarter worth $94,000. SBI Securities Co. Ltd. increased its position in shares of Coincheck Group by 74.8% during the second quarter. SBI Securities Co. Ltd. now owns 37,438 shares of the company’s stock worth $205,000 after acquiring an additional 16,019 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Coincheck Group by 76.1% in the second 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 purchased a new position in Coincheck Group in the second quarter valued at about $192,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Coincheck Group by 120.0% in the second quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock valued at $696,000 after purchasing an additional 69,377 shares during the last quarter. 33.22% of the stock is owned by institutional investors and hedge funds.

Coincheck Group Company Profile

Coincheck Group NV. is a Dutch public limited liability company and a holding company of Coincheck, Inc which operates one of the largest multi-cryptocurrency marketplaces and crypto asset exchanges in Japan and is regulated by the Financial Services Agency of Japan. The company was founded on February 18, 2022 and is headquartered in Amsterdam, Netherland.