Short Interest in Coincheck Group N.V. (NASDAQ:CNCK) Drops By 34.0%

Coincheck Group N.V. (NASDAQ:CNCK) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 110,813 shares, a decline of 34.0% from the June 30th total of 168,007 shares. Based on an average daily trading volume, of 74,601 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.2% of the shares of the stock are short sold.

Coincheck Group Price Performance

NASDAQ CNCK opened at $1.80 on Friday. Coincheck Group has a 1-year low of $1.40 and a 1-year high of $9.31. The company has a market capitalization of $293.36 million, a P/E ratio of -20.00 and a beta of 0.45. The business has a 50 day moving average price of $2.20 and a 200 day moving average price of $2.19.

Coincheck Group (NASDAQ:CNCK) last issued its quarterly earnings data on Monday, June 29th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $752.40 million for the quarter. Coincheck Group had a negative return on equity of 12.90% and a negative net margin of 0.38%. On average, research analysts expect that Coincheck Group will post -0.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CNCK shares. Cantor Fitzgerald cut their price objective on Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Coincheck Group from a “strong sell” rating to a “hold” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNCK. Kepos Capital LP acquired a new position in shares of Coincheck Group during the 4th quarter worth $661,000. Geode Capital Management LLC grew its stake in Coincheck Group by 570.9% in the 4th quarter. Geode Capital Management LLC now owns 265,451 shares of the company’s stock valued at $669,000 after acquiring an additional 225,882 shares during the last quarter. Ghisallo Capital Management LLC grew its stake in Coincheck Group by 23.5% in the 4th quarter. Ghisallo Capital Management LLC now owns 1,055,172 shares of the company’s stock valued at $2,659,000 after acquiring an additional 200,930 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings 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 valued at $696,000 after acquiring an additional 69,377 shares in the last quarter. Finally, HRT Financial LP purchased a new position in Coincheck Group during the 4th quarter valued at about $132,000. Institutional investors and hedge funds own 33.22% of the company’s stock.

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.