Wall Street Zen Upgrades Coincheck Group (NASDAQ:CNCK) to Hold

Coincheck Group (NASDAQ:CNCK) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other equities analysts also recently commented on CNCK. KeyCorp initiated coverage on shares of Coincheck Group in a research note on Wednesday, July 23rd. They issued a “sector weight” rating on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $6.00 target price (down from $9.00) on shares of Coincheck Group in a research note on Friday, August 8th.

Coincheck Group Stock Performance

Shares of CNCK stock opened at $4.77 on Friday. The company’s 50-day simple moving average is $5.31 and its two-hundred day simple moving average is $6.05. Coincheck Group has a one year low of $4.22 and a one year high of $14.42.

Hedge Funds Weigh In On Coincheck Group

A number of hedge funds and other institutional investors have recently modified their holdings of CNCK. JPMorgan Chase & Co. bought a new position in shares of Coincheck Group during the fourth quarter valued at approximately $533,000. Geode Capital Management LLC bought a new position in shares of Coincheck Group during the fourth quarter valued at approximately $137,000. Ghisallo Capital Management LLC bought a new position in shares of Coincheck Group during the fourth quarter valued at approximately $10,439,000. Jane Street Group LLC bought a new position in shares of Coincheck Group during the fourth quarter valued at approximately $134,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Coincheck Group during the fourth quarter valued at approximately $362,000. 33.22% of the stock is currently owned by institutional investors.

Coincheck Group Company Profile

Coincheck Group NV. is a Dutch public limited liability company and a holding company of Coincheck, Inc which operates one of the largest multi-cryptocurrency marketplaces and crypto asset exchanges in Japan and is regulated by the Financial Services Agency of Japan. The company was founded on February 18, 2022 and is headquartered in Amsterdam, Netherland.