Wall Street Zen Downgrades Coincheck Group (NASDAQ:CNCK) to Sell

Coincheck Group (NASDAQ:CNCK) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research firms have also issued reports on CNCK. Weiss Ratings reissued a “sell (e+)” rating on shares of Coincheck Group in a report on Monday, December 29th. Compass Point assumed coverage on Coincheck Group in a research report on Tuesday, January 6th. They set a “buy” rating and a $5.00 price objective on the stock. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.50.

Coincheck Group Trading Up 2.9%

Shares of CNCK stock opened at $2.51 on Friday. Coincheck Group has a 12 month low of $2.00 and a 12 month high of $9.49. The stock has a market cap of $341.18 million, a P/E ratio of -50.20 and a beta of 0.10. The company has a 50 day simple moving average of $2.66 and a two-hundred day simple moving average of $3.83.

Coincheck Group (NASDAQ:CNCK) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Coincheck Group had a negative net margin of 0.03% and a negative return on equity of 1.47%.

Hedge Funds Weigh In On Coincheck Group

Large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its position in shares of Coincheck Group by 74.8% during the second quarter. SBI Securities Co. Ltd. now owns 37,438 shares of the company’s stock worth $205,000 after purchasing an additional 16,019 shares in the last quarter. Ghisallo Capital Management LLC boosted its stake in Coincheck Group by 23.5% in the 4th quarter. Ghisallo Capital Management LLC now owns 1,055,172 shares of the company’s stock worth $2,659,000 after purchasing an additional 200,930 shares during the period. Kepos Capital LP purchased a new stake in Coincheck Group during the 4th quarter valued at approximately $661,000. Geode Capital Management LLC raised its position in shares of Coincheck Group by 570.9% during 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 last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Coincheck Group by 25.1% in the third quarter. Millennium Management LLC now owns 78,238 shares of the company’s stock worth $362,000 after buying an additional 15,710 shares in the last quarter. 33.22% of the stock is currently owned by hedge funds and other institutional investors.

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.