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

Coincheck Group (NASDAQ:CNCK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

CNCK has been the subject of a number of other research reports. Compass Point initiated coverage on Coincheck Group in a research report on Tuesday, January 6th. They set a “buy” rating and a $5.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a report on Monday, December 29th. One investment 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. According to MarketBeat.com, Coincheck Group currently has a consensus rating of “Hold” and an average target price of $5.50.

Coincheck Group Trading Up 2.9%

CNCK stock opened at $2.51 on Friday. The stock has a 50-day moving average price of $2.66 and a two-hundred day moving average price of $3.81. The stock has a market cap of $341.18 million, a PE ratio of 125.56 and a beta of 0.09. Coincheck Group has a 1 year low of $2.00 and a 1 year high of $9.49.

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

Institutional Trading of Coincheck Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new stake in shares of Coincheck Group during the first quarter worth approximately $94,000. HRT Financial LP acquired a new stake in Coincheck Group during the 4th quarter worth approximately $132,000. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 5,257 shares during the last quarter. Voya Investment Management LLC bought a new stake in Coincheck Group in the 3rd quarter valued at $164,000. Finally, Marshall Wace LLP bought a new stake in Coincheck Group in the 2nd quarter valued at $192,000. 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.