Coincheck Group (NASDAQ:CNCK) Raised to Hold at Wall Street Zen

Coincheck Group (NASDAQ:CNCK) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also commented on CNCK. Compass Point started coverage on shares of Coincheck Group in a research report on Tuesday, January 6th. They set a “buy” rating and a $5.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coincheck Group presently has an average rating of “Hold” and a consensus price target of $5.50.

Coincheck Group Price Performance

NASDAQ:CNCK opened at $2.35 on Friday. The firm has a market capitalization of $319.44 million, a P/E ratio of 117.56 and a beta of 0.12. The business has a 50 day simple moving average of $2.56 and a 200 day simple moving average of $3.57. Coincheck Group has a 12-month low of $2.00 and a 12-month high of $9.49.

Coincheck Group (NASDAQ:CNCK) last issued its earnings results on Wednesday, February 18th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $914.90 million for the quarter, compared to analyst estimates of $691.73 million. Coincheck Group had a negative return on equity of 0.26% and a negative net margin of 0.01%.

Hedge Funds Weigh In On Coincheck Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC increased its position in shares of Coincheck Group by 23.5% during the 4th quarter. Ghisallo Capital Management LLC now owns 1,055,172 shares of the company’s stock valued at $2,659,000 after purchasing an additional 200,930 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Coincheck Group by 570.9% in the fourth quarter. Geode Capital Management LLC now owns 265,451 shares of the company’s stock valued at $669,000 after buying an additional 225,882 shares during the period. Kepos Capital LP acquired a new stake in shares of Coincheck Group in the fourth quarter valued at $661,000. Balyasny Asset Management L.P. boosted its stake in 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 buying an additional 69,377 shares in the last quarter. Finally, Millennium Management LLC boosted 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. 33.22% of the stock is owned by institutional investors.

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.