Coincheck Group (NASDAQ:CNCK) Rating Increased to Hold at Zacks Research

Coincheck Group (NASDAQ:CNCK) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

CNCK has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a research note on Friday, May 22nd. Cantor Fitzgerald dropped their target price on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.75.

Coincheck Group Stock Performance

CNCK opened at $1.80 on Thursday. The firm has a market cap of $293.36 million, a P/E ratio of -20.00 and a beta of 0.45. Coincheck Group has a 52-week low of $1.40 and a 52-week high of $9.31. The business’s fifty day moving average is $2.20 and its 200-day moving average is $2.19.

Coincheck Group (NASDAQ:CNCK) last issued its quarterly earnings results on Monday, June 29th. The company reported ($0.06) EPS for the quarter. The company had revenue of $752.40 million during the quarter. Coincheck Group had a negative return on equity of 12.90% and a negative net margin of 0.38%. On average, research analysts predict that Coincheck Group will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coincheck Group

Several hedge funds and other institutional investors have recently modified their holdings of CNCK. Kepos Capital LP acquired a new position in shares of Coincheck Group during the 4th quarter worth $661,000. Geode Capital Management LLC lifted its position in shares of Coincheck Group by 570.9% during the 4th quarter. Geode Capital Management LLC now owns 265,451 shares of the company’s stock worth $669,000 after buying an additional 225,882 shares during the last quarter. Ghisallo Capital Management LLC boosted its stake in Coincheck Group by 23.5% in the fourth quarter. Ghisallo Capital Management LLC now owns 1,055,172 shares of the company’s stock valued at $2,659,000 after buying an additional 200,930 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Coincheck Group by 120.0% in the second quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock valued at $696,000 after buying an additional 69,377 shares in the last quarter. Finally, HRT Financial LP bought a new position in Coincheck Group in the fourth quarter valued at about $132,000. Institutional investors own 33.22% of the company’s stock.

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.