Coincheck Group N.V. (NASDAQ:CNCK) Short Interest Down 58.8% in June

Coincheck Group N.V. (NASDAQ:CNCK) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 233,007 shares, a decrease of 58.8% from the May 31st total of 564,881 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average trading volume of 106,520 shares, the short-interest ratio is presently 2.2 days.

Coincheck Group Stock Performance

Shares of CNCK traded up $0.04 during midday trading on Monday, hitting $2.28. 79,105 shares of the stock were exchanged, compared to its average volume of 605,713. Coincheck Group has a 52-week low of $1.39 and a 52-week high of $9.31. The stock has a fifty day simple moving average of $1.90 and a 200 day simple moving average of $2.27. The firm has a market cap of $309.92 million, a P/E ratio of 114.06 and a beta of 0.49.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Coincheck Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ghisallo Capital Management LLC lifted its position in Coincheck Group by 23.5% in the fourth quarter. Ghisallo Capital Management LLC now owns 1,055,172 shares of the company’s stock valued at $2,659,000 after purchasing an additional 200,930 shares during the period. Balyasny Asset Management L.P. increased its position in Coincheck Group by 120.0% during the 2nd 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. Geode Capital Management LLC raised its stake in shares of Coincheck Group by 570.9% during the 4th quarter. Geode Capital Management LLC now owns 265,451 shares of the company’s stock worth $669,000 after buying an additional 225,882 shares in the last quarter. Kepos Capital LP purchased a new position in shares of Coincheck Group during the 4th quarter worth approximately $661,000. Finally, Millennium Management LLC lifted its holdings in shares of Coincheck Group by 25.1% in the 3rd 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 period. Hedge funds and other institutional investors own 33.22% of the company’s stock.

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.