Short Interest in Coincheck Group N.V. (NASDAQ:CNCK) Expands By 259.1%

Coincheck Group N.V. (NASDAQ:CNCK) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 1,023,026 shares, an increase of 259.1% from the April 30th total of 284,853 shares. Based on an average daily volume of 4,810,300 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Coincheck Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNCK. JPMorgan Chase & Co. increased its holdings in shares of Coincheck Group by 22.3% during the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock valued at $133,000 after acquiring an additional 5,257 shares in the last quarter. Millennium Management LLC boosted its position in Coincheck Group by 25.1% in the third quarter. Millennium Management LLC now owns 78,238 shares of the company’s stock valued at $362,000 after buying an additional 15,710 shares during the last quarter. Geode Capital Management LLC boosted its position 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 buying an additional 15,983 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Coincheck Group in the first quarter valued at approximately $94,000. Finally, Virtu Financial LLC purchased a new stake in Coincheck Group in the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 33.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CNCK. Cantor Fitzgerald decreased their target price on Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen upgraded Coincheck Group from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a research report on Friday, May 22nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.75.

Coincheck Group Stock Down 5.6%

Shares of CNCK stock traded down $0.11 on Friday, hitting $1.86. The stock had a trading volume of 201,992 shares, compared to its average volume of 2,843,907. The business has a 50 day moving average price of $1.84 and a 200 day moving average price of $2.58. The company has a market cap of $252.83 million, a PE ratio of 93.00 and a beta of 0.47. Coincheck Group has a one year low of $1.40 and a one year high of $9.31.

Coincheck Group (NASDAQ:CNCK) last released its quarterly earnings data on Tuesday, May 12th. The company reported $999.00 earnings per share for the quarter. Coincheck Group had a negative return on equity of 12.42% and a negative net margin of 0.38%. Equities research analysts expect that Coincheck Group will post -0.04 EPS for the current year.

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.