Coincheck Group N.V. (NASDAQ:CNCK) Short Interest Up 259.1% in May

Coincheck Group N.V. (NASDAQ:CNCK) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 1,023,026 shares, an increase of 259.1% from the April 30th total of 284,853 shares. Based on an average daily volume of 4,810,300 shares, the short-interest ratio is presently 0.2 days. Currently, 2.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Coincheck Group from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Cantor Fitzgerald lowered their price target on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.75.

Institutional Investors Weigh In On Coincheck Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Coincheck Group during the 1st quarter valued at $94,000. JPMorgan Chase & Co. raised its position in Coincheck Group by 22.3% during the third 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 in the last quarter. Virtu Financial LLC bought a new stake in Coincheck Group during the fourth quarter worth about $84,000. Marshall Wace LLP purchased a new position in shares of Coincheck Group in the 2nd quarter worth about $192,000. Finally, Geode Capital Management LLC boosted its stake in Coincheck Group by 76.1% in the second quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock worth $202,000 after buying an additional 15,983 shares in the last quarter. 33.22% of the stock is owned by hedge funds and other institutional investors.

Coincheck Group Stock Down 5.6%

NASDAQ:CNCK traded down $0.11 during mid-day trading on Friday, hitting $1.86. 201,992 shares of the stock traded hands, compared to its average volume of 2,843,907. The business’s 50-day moving average price is $1.84 and its 200 day moving average price is $2.58. The company has a market cap of $252.83 million, a PE ratio of 93.05 and a beta of 0.47. Coincheck Group has a 12-month low of $1.40 and a 12-month high of $9.31.

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

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.