Coincheck Group (NASDAQ:CNCK) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities analysts also recently commented on the company. Compass Point began coverage on Coincheck Group in a research note on Tuesday, January 6th. They issued a “buy” rating and a $5.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.50.

Coincheck Group Stock Performance

Coincheck Group stock opened at $2.88 on Friday. Coincheck Group has a 1 year low of $2.00 and a 1 year high of $10.52. The firm’s 50-day moving average is $3.40 and its 200-day moving average is $4.33. The company has a market cap of $391.48 million, a P/E ratio of -3.31 and a beta of 0.09.

Institutional Trading of Coincheck Group

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in Coincheck Group by 22.3% during the 3rd 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 period. Millennium Management LLC raised its stake in shares of Coincheck Group by 25.1% during the third quarter. Millennium Management LLC now owns 78,238 shares of the company’s stock valued at $362,000 after purchasing an additional 15,710 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of Coincheck Group during the third quarter valued at about $164,000. Balyasny Asset Management L.P. lifted its holdings in Coincheck Group by 120.0% in the second quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock worth $696,000 after purchasing an additional 69,377 shares during the period. Finally, Marshall Wace LLP bought a new position in Coincheck Group in the 2nd quarter valued at about $192,000. 33.22% of the stock is currently 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.