Coincheck Group (NASDAQ:CNCK) Shares Gap Up – Time to Buy?

Coincheck Group N.V. (NASDAQ:CNCK) gapped up prior to trading on Monday . The stock had previously closed at $3.24, but opened at $3.64. Coincheck Group shares last traded at $4.51, with a volume of 1,082,294 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNCK. Wall Street Zen raised Coincheck Group from a “strong sell” rating to a “hold” rating in a report on Sunday, August 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $6.00 target price (down previously from $9.00) on shares of Coincheck Group in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a research report on Monday, November 24th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $6.00.

Coincheck Group Price Performance

The stock has a market capitalization of $699.08 million, a P/E ratio of -6.20 and a beta of 0.07. The stock’s fifty day moving average is $4.12 and its two-hundred day moving average is $4.85.

Institutional Investors Weigh In On Coincheck Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 5,257 shares during the period. Millennium Management LLC lifted its stake in Coincheck Group by 25.1% during the third quarter. Millennium Management LLC now owns 78,238 shares of the company’s stock valued at $362,000 after buying an additional 15,710 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 15,983 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Coincheck Group by 74.8% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Coincheck Group during the first quarter valued at approximately $94,000. 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.