Short Interest in Coincheck Group N.V. (NASDAQ:CNCK) Decreases By 44.8%

Coincheck Group N.V. (NASDAQ:CNCK) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 564,881 shares, a drop of 44.8% from the May 14th total of 1,023,026 shares. Based on an average daily trading volume, of 187,038 shares, the short-interest ratio is currently 3.0 days. Currently, 1.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNCK. Wall Street Zen upgraded Coincheck Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a research report on Friday, May 22nd. Finally, Cantor Fitzgerald reduced their price objective on Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.75.

Institutional Trading of Coincheck Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Coincheck Group during the 4th quarter worth $84,000. Goldman Sachs Group Inc. purchased a new position in shares of Coincheck Group during the 1st quarter worth $94,000. HRT Financial LP purchased a new position in shares of Coincheck Group during the 4th quarter worth $132,000. JPMorgan Chase & Co. grew its holdings in shares of Coincheck Group by 22.3% during the 3rd 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. Finally, Marshall Wace LLP purchased a new position in Coincheck Group during the 2nd quarter valued at about $192,000. 33.22% of the stock is owned by institutional investors and hedge funds.

Coincheck Group Price Performance

NASDAQ CNCK traded up $0.04 during mid-day trading on Friday, hitting $1.70. The stock had a trading volume of 51,603 shares, compared to its average volume of 156,025. The firm’s 50 day moving average is $1.83 and its 200 day moving average is $2.48. Coincheck Group has a twelve month low of $1.40 and a twelve month high of $9.31. The stock has a market capitalization of $231.08 million, a price-to-earnings ratio of 85.04 and a beta of 0.49.

Coincheck Group (NASDAQ:CNCK) last issued its earnings results on Tuesday, May 12th. The company reported $999.00 earnings per share (EPS) for the quarter. Coincheck Group had a negative return on equity of 12.42% and a negative net margin of 0.38%. As a group, equities research analysts expect that Coincheck Group will post -0.04 earnings per share for the current year.

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.