Coincheck Group (NASDAQ:CNCK) Issues Earnings Results

Coincheck Group (NASDAQ:CNCK) announced its earnings results on Thursday. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02, Zacks reports. Coincheck Group had a negative net margin of 2.54% and a negative return on equity of 152.38%.

Coincheck Group Price Performance

Shares of Coincheck Group stock traded down $0.19 during midday trading on Thursday, hitting $2.57. 19,910 shares of the company were exchanged, compared to its average volume of 217,225. The firm has a 50 day simple moving average of $2.97 and a 200-day simple moving average of $3.94. The firm has a market cap of $349.34 million, a P/E ratio of -2.95 and a beta of 0.10. Coincheck Group has a 52 week low of $2.00 and a 52 week high of $9.49.

Analyst Upgrades and Downgrades

CNCK has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a research report on Monday, December 29th. Compass Point assumed coverage on shares of Coincheck Group in a research note on Tuesday, January 6th. They set a “buy” rating and a $5.00 target price for the company. Finally, Wall Street Zen upgraded shares of Coincheck Group to a “hold” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.50.

Institutional Investors Weigh In On Coincheck Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in Coincheck Group in the first quarter valued at about $94,000. JPMorgan Chase & Co. increased its holdings in shares of Coincheck Group by 22.3% during the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock worth $133,000 after buying an additional 5,257 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Coincheck Group in the second quarter valued at approximately $192,000. Geode Capital Management LLC boosted its holdings in shares of Coincheck Group by 76.1% in the 2nd quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock worth $202,000 after acquiring an additional 15,983 shares in the last quarter. Finally, Millennium Management LLC grew its position in Coincheck Group by 25.1% during the 3rd quarter. Millennium Management LLC now owns 78,238 shares of the company’s stock worth $362,000 after acquiring an additional 15,710 shares during the last quarter. Institutional investors and hedge funds own 33.22% of the company’s stock.

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.