Coincheck Group (NASDAQ:CNCK) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Coincheck Group (NASDAQ:CNCK) from a hold rating to a sell rating in a report released on Saturday morning.

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

Coincheck Group Stock Down 2.8%

Coincheck Group stock opened at $2.44 on Friday. The firm has a 50 day moving average price of $2.64 and a 200-day moving average price of $3.80. Coincheck Group has a twelve month low of $2.00 and a twelve month high of $9.49. The company has a market capitalization of $331.67 million, a P/E ratio of 122.06 and a beta of 0.09.

Coincheck Group (NASDAQ:CNCK) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. Coincheck Group had a negative return on equity of 0.26% and a negative net margin of 0.01%.The business had revenue of $914.90 million for the quarter, compared to the consensus estimate of $691.73 million.

Hedge Funds Weigh In On Coincheck Group

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Coincheck Group during the 4th quarter valued at about $84,000. Goldman Sachs Group Inc. bought a new position in shares of Coincheck Group during the 1st quarter valued at $94,000. HRT Financial LP purchased a new position in Coincheck Group in the 4th quarter worth $132,000. JPMorgan Chase & Co. lifted its stake 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 during the last quarter. Finally, Voya Investment Management LLC purchased a new stake in Coincheck Group during the third quarter valued at about $164,000. 33.22% of the stock is currently owned by institutional investors.

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.