Coincheck Group N.V. (NASDAQ:CNCK) Receives Average Recommendation of “Reduce” from Analysts

Shares of Coincheck Group N.V. (NASDAQ:CNCK) have earned an average recommendation of “Reduce” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $3.75.

A number of brokerages have recently commented on CNCK. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a report on Friday, May 22nd. Wall Street Zen upgraded Coincheck Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Cantor Fitzgerald reduced their price objective 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. Finally, Zacks Research cut Coincheck Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st.

Hedge Funds Weigh In On Coincheck Group

Large investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Coincheck Group in the 4th quarter worth $84,000. Goldman Sachs Group Inc. purchased a new position in Coincheck Group during the first quarter worth about $94,000. HRT Financial LP purchased a new position in Coincheck Group during the fourth quarter worth about $132,000. JPMorgan Chase & Co. lifted 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 valued at $133,000 after purchasing an additional 5,257 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Coincheck Group in the second quarter valued at about $192,000. Hedge funds and other institutional investors own 33.22% of the company’s stock.

Coincheck Group Trading Down 3.1%

CNCK stock opened at $2.54 on Friday. The company has a market capitalization of $413.98 million, a P/E ratio of -28.22 and a beta of 0.45. The business has a 50 day simple moving average of $1.99 and a 200-day simple moving average of $2.21. Coincheck Group has a twelve month low of $1.39 and a twelve month high of $9.31.

Coincheck Group (NASDAQ:CNCK) last released its quarterly earnings results on Monday, June 29th. The company reported ($0.06) EPS for the quarter. Coincheck Group had a negative net margin of 0.38% and a negative return on equity of 12.90%. The business had revenue of $752.40 million during the quarter.

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.