Short Interest in Coincheck Group N.V. (NASDAQ:CNCK) Drops By 44.8%

Coincheck Group N.V. (NASDAQ:CNCK) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 564,881 shares, a decrease of 44.8% from the May 14th total of 1,023,026 shares. Based on an average trading volume of 187,038 shares, the days-to-cover ratio is presently 3.0 days. Approximately 1.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

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

Coincheck Group Trading Down 5.2%

Shares of NASDAQ:CNCK traded down $0.10 on Tuesday, reaching $1.73. 53,354 shares of the company’s stock were exchanged, compared to its average volume of 642,431. Coincheck Group has a twelve month low of $1.40 and a twelve month high of $9.31. The company has a fifty day moving average of $1.84 and a 200-day moving average of $2.46. The company has a market capitalization of $234.48 million, a price-to-earnings ratio of 86.29 and a beta of 0.49.

Coincheck Group (NASDAQ:CNCK) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $999.00 EPS for the quarter. Coincheck Group had a negative return on equity of 12.42% and a negative net margin of 0.38%. As a group, equities research analysts forecast that Coincheck Group will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNCK has been the subject of a number of research analyst reports. Wall Street Zen upgraded Coincheck Group from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a research report on Friday, May 22nd. Finally, Cantor Fitzgerald reduced their target price on Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. 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. According to MarketBeat.com, Coincheck Group currently has a consensus rating of “Hold” and a consensus target price of $3.75.

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.