Coincheck Group N.V. (NASDAQ:CNCK) Receives Average Rating of “Reduce” from Brokerages

Coincheck Group N.V. (NASDAQ:CNCK) has been assigned an average recommendation of “Reduce” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $3.75.

A number of equities analysts have issued reports on CNCK shares. Cantor Fitzgerald cut their price objective on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Coincheck Group from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a research report on Friday, May 22nd. Finally, Zacks Research lowered shares of Coincheck Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday.

Institutional Trading of Coincheck Group

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new position in Coincheck Group in the first quarter worth $94,000. JPMorgan Chase & Co. increased its position 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 valued at $133,000 after purchasing an additional 5,257 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Coincheck Group in the fourth quarter valued at about $84,000. Marshall Wace LLP bought a new position in shares of Coincheck Group during the second quarter valued at about $192,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Coincheck Group by 76.1% during the second quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock worth $202,000 after purchasing an additional 15,983 shares during the period. 33.22% of the stock is owned by hedge funds and other institutional investors.

Coincheck Group Stock Up 5.2%

CNCK stock opened at $2.24 on Friday. The firm has a market capitalization of $304.48 million, a PE ratio of -24.89 and a beta of 0.45. Coincheck Group has a twelve month low of $1.39 and a twelve month high of $9.31. The stock’s 50 day moving average is $1.93 and its 200-day moving average is $2.21.

Coincheck Group (NASDAQ:CNCK) last announced its quarterly earnings results on Monday, June 29th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $752.40 million for the quarter. Coincheck Group had a negative return on equity of 12.42% and a negative net margin of 0.38%.

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.