Coincheck Group (NASDAQ:CNCK) Rating Lowered to “Sell” at Wall Street Zen

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 to investors on Saturday.

A number of other brokerages have also weighed in on CNCK. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a report on Monday, December 29th. Compass Point began coverage on Coincheck Group in a report on Tuesday, January 6th. They issued a “buy” rating and a $5.00 target price for the company. One research 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.50.

Coincheck Group Price Performance

Shares of Coincheck Group stock opened at $2.51 on Friday. Coincheck Group has a 1 year low of $2.00 and a 1 year high of $9.49. The firm’s 50-day moving average is $2.66 and its 200 day moving average is $3.83. The stock has a market cap of $341.18 million, a price-to-earnings ratio of -50.20 and a beta of 0.10.

Coincheck Group (NASDAQ:CNCK) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.03 earnings per share 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%.

Institutional Investors Weigh In On Coincheck Group

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new stake in Coincheck Group during the 1st quarter valued at $94,000. HRT Financial LP bought a new stake in shares of Coincheck Group in the fourth quarter worth $132,000. JPMorgan Chase & Co. increased 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 acquiring an additional 5,257 shares during the last quarter. Voya Investment Management LLC bought a new position in Coincheck Group in the third quarter valued at about $164,000. Finally, Marshall Wace LLP bought a new position in Coincheck Group in the second quarter valued at about $192,000. Institutional investors 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.