Coincheck Group (NASDAQ:CNCK) Trading Down 14.1% – What’s Next?

Coincheck Group N.V. (NASDAQ:CNCK) shares traded down 14.1% during trading on Monday . The stock traded as low as $4.91 and last traded at $4.95. 23,481 shares changed hands during trading, a decline of 87% from the average session volume of 179,430 shares. The stock had previously closed at $5.76.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CNCK shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Coincheck Group in a research report on Monday. Wall Street Zen upgraded Coincheck Group from a “strong sell” rating to a “hold” rating in a report on Sunday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Coincheck Group currently has a consensus rating of “Reduce” and an average price target of $6.00.

Coincheck Group Trading Up 2.6%

The firm has a 50-day moving average of $4.18 and a 200 day moving average of $4.80. The company has a market cap of $573.27 million, a P/E ratio of -5.08 and a beta of 0.07.

Institutional Trading of Coincheck Group

Several hedge funds have recently modified their holdings of CNCK. Millennium Management LLC lifted its position in shares of Coincheck Group by 25.1% during the 3rd quarter. Millennium Management LLC now owns 78,238 shares of the company’s stock valued at $362,000 after acquiring an additional 15,710 shares during the period. JPMorgan Chase & Co. grew its holdings in Coincheck Group by 22.3% in the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock worth $133,000 after purchasing an additional 5,257 shares during the period. Voya Investment Management LLC bought a new stake in Coincheck Group in the third quarter valued at $164,000. Balyasny Asset Management L.P. raised 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 purchasing an additional 69,377 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Coincheck Group during the second quarter valued at about $192,000. Institutional investors own 33.22% of the company’s stock.

About Coincheck Group

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.