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

Coincheck Group (NASDAQ:CNCK) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently issued reports on CNCK. Compass Point assumed coverage on Coincheck Group in a research note on Tuesday, January 6th. They set a “buy” rating and a $5.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued 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 Stock Down 1.3%

Shares of CNCK opened at $2.35 on Friday. Coincheck Group has a twelve month low of $2.00 and a twelve month high of $9.49. The stock has a market capitalization of $319.44 million, a P/E ratio of 117.56 and a beta of 0.12. The company has a 50 day moving average of $2.56 and a 200-day moving average of $3.59.

Coincheck Group (NASDAQ:CNCK) last released its earnings results on Wednesday, February 18th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Coincheck Group had a negative return on equity of 0.26% and a negative net margin of 0.01%.The business had revenue of $914.90 million for the quarter, compared to the consensus estimate of $691.73 million.

Institutional Trading of Coincheck Group

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in shares of Coincheck Group during the first quarter worth approximately $94,000. SBI Securities Co. Ltd. boosted its stake in shares of Coincheck Group by 74.8% in the second quarter. SBI Securities Co. Ltd. now owns 37,438 shares of the company’s stock valued at $205,000 after buying an additional 16,019 shares during the period. Geode Capital Management LLC boosted its stake in shares of Coincheck Group by 76.1% in the second quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock valued at $202,000 after buying an additional 15,983 shares during the period. Marshall Wace LLP acquired a new stake in Coincheck Group during the second quarter worth approximately $192,000. Finally, Balyasny Asset Management L.P. grew its position in Coincheck Group by 120.0% during the second quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock worth $696,000 after buying an additional 69,377 shares in the last quarter. 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.