Coincheck Group (NASDAQ:CNCK) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Coincheck Group (NASDAQ:CNCK) from a strong sell rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

CNCK has been the subject of a number of other research reports. Cantor Fitzgerald cut their target price on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a report on Friday, May 22nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Coincheck Group currently has an average rating of “Hold” and a consensus price target of $3.75.

Coincheck Group Price Performance

Shares of CNCK opened at $1.80 on Thursday. Coincheck Group has a one year low of $1.40 and a one year high of $9.31. The company has a 50-day moving average of $2.20 and a two-hundred day moving average of $2.19. The stock has a market cap of $293.36 million, a price-to-earnings ratio of -20.00 and a beta of 0.45.

Coincheck Group (NASDAQ:CNCK) last announced its earnings results on Monday, June 29th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $752.40 million for the quarter. Coincheck Group had a negative net margin of 0.38% and a negative return on equity of 12.90%. Analysts anticipate that Coincheck Group will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Coincheck Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Coincheck Group in the fourth quarter worth $84,000. Goldman Sachs Group Inc. acquired a new stake in shares of Coincheck Group during the 1st quarter valued at about $94,000. HRT Financial LP bought a new stake in Coincheck Group in the fourth quarter valued at about $132,000. JPMorgan Chase & Co. raised its position in Coincheck Group by 22.3% in the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock worth $133,000 after purchasing an additional 5,257 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Coincheck Group during the second quarter worth about $192,000. 33.22% of the stock is currently owned by institutional investors.

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.