Coincheck Group (NASDAQ:CNCK) Stock Price Up 11% – What’s Next?

Coincheck Group N.V. (NASDAQ:CNCK) shares rose 11% during trading on Monday . The company traded as high as $3.05 and last traded at $2.72. Approximately 196,542 shares were traded during mid-day trading, an increase of 87% from the average daily volume of 105,046 shares. The stock had previously closed at $2.45.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CNCK shares. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Coincheck Group to a “hold” rating in a research report on Saturday, January 17th. Finally, Compass Point began coverage on shares of Coincheck Group in a research report on Tuesday, January 6th. They issued a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Coincheck Group presently has an average rating of “Hold” and an average target price of $5.50.

Coincheck Group Price Performance

The company has a market cap of $369.73 million, a PE ratio of -3.13 and a beta of 0.09. The stock has a 50 day simple moving average of $3.10 and a two-hundred day simple moving average of $3.97.

Institutional Trading of Coincheck Group

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Coincheck Group by 570.9% in the 4th quarter. Geode Capital Management LLC now owns 265,451 shares of the company’s stock valued at $669,000 after purchasing an additional 225,882 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Coincheck Group by 120.0% in the 2nd 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 during the period. Millennium Management LLC boosted its stake in shares of Coincheck Group by 25.1% in the third quarter. Millennium Management LLC now owns 78,238 shares of the company’s stock valued at $362,000 after buying an additional 15,710 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Coincheck Group by 74.8% during the second quarter. SBI Securities Co. Ltd. now owns 37,438 shares of the company’s stock worth $205,000 after acquiring an additional 16,019 shares during the period. Finally, Voya Investment Management LLC acquired a new position in Coincheck Group during the third quarter worth $164,000. 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.