Short Interest in Coincheck Group N.V. (NASDAQ:CNCK) Grows By 78.9%

Coincheck Group N.V. (NASDAQ:CNCK) was the recipient of a large increase in short interest in August. As of August 14th, there was short interest totaling 165,815 shares, an increase of 78.9% from the July 30th total of 92,684 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 258,281 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CNCK shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Coincheck Group in a research note on Wednesday, August 19th. Zacks Research raised shares of Coincheck Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald lowered their price target on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a report on Wednesday, May 13th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.75.

Coincheck Group Trading Up 1.4%

Shares of Coincheck Group stock traded up $0.03 during trading hours on Friday, reaching $2.11. 19,522 shares of the company’s stock were exchanged, compared to its average volume of 148,758. Coincheck Group has a 52-week low of $1.39 and a 52-week high of $9.31. The firm has a market capitalization of $343.89 million, a price-to-earnings ratio of -35.17 and a beta of 0.46. The company has a fifty day moving average of $2.30 and a 200-day moving average of $2.12.

Coincheck Group (NASDAQ:CNCK) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $717.43 million for the quarter, compared to analysts’ expectations of $693.43 million. Coincheck Group had a negative return on equity of 7.94% and a negative net margin of 0.30%. On average, equities research analysts anticipate that Coincheck Group will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Coincheck Group

A number of hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in shares of Coincheck Group during the 1st quarter valued at about $94,000. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 5,257 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Coincheck Group in the fourth quarter worth approximately $84,000. Marshall Wace LLP purchased a new stake in Coincheck Group in the second quarter valued at approximately $192,000. Finally, Geode Capital Management LLC grew its holdings in 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 purchasing an additional 15,983 shares during the period. 33.22% of the stock is owned by institutional investors and hedge funds.

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.