Coincheck Group (NASDAQ:CNCK) Trading Up 11% – Should You Buy?

Coincheck Group N.V. (NASDAQ:CNCK) shot up 11% during trading on Monday . The stock traded as high as $3.05 and last traded at $2.72. 196,542 shares changed hands during trading, an increase of 87% from the average session volume of 105,046 shares. The stock had previously closed at $2.45.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CNCK shares. Wall Street Zen upgraded shares of Coincheck Group to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a research report on Monday, December 29th. Finally, Compass Point began coverage on shares of Coincheck Group in a report on Tuesday, January 6th. They issued a “buy” rating and a $5.00 target price for the company. One 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.50.

Coincheck Group Stock Performance

The firm has a market capitalization of $369.73 million, a PE ratio of -3.13 and a beta of 0.09. The firm’s 50-day moving average is $3.10 and its 200 day moving average is $3.97.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Coincheck Group by 570.9% during the 4th 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 last quarter. Balyasny Asset Management L.P. boosted 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 worth $696,000 after purchasing an additional 69,377 shares during the last quarter. Voya Investment Management LLC acquired a new stake in Coincheck Group in the 3rd quarter worth about $164,000. Marshall Wace LLP purchased a new stake in Coincheck Group in the 2nd quarter valued at about $192,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Coincheck Group in the first quarter worth approximately $94,000. 33.22% of the stock is currently owned by institutional investors and hedge funds.

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.