Coincheck Group N.V. (NASDAQ:CNCK) Sees Significant Decrease in Short Interest

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

Institutional Trading of Coincheck Group

A number of hedge funds have recently made changes to their positions in CNCK. Virtu Financial LLC acquired a new position in shares of Coincheck Group during the 4th quarter worth approximately $84,000. Goldman Sachs Group Inc. bought a new position in Coincheck Group during the first quarter worth $94,000. HRT Financial LP bought a new position in Coincheck Group during the fourth quarter worth $132,000. JPMorgan Chase & Co. increased its holdings in shares of Coincheck Group by 22.3% in the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock valued at $133,000 after purchasing an additional 5,257 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Coincheck Group in the second quarter valued at $192,000. 33.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CNCK shares. Cantor Fitzgerald dropped their target price on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Coincheck Group from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a research note on Friday, May 22nd. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.75.

Coincheck Group Price Performance

Shares of CNCK opened at $2.15 on Wednesday. The firm has a 50-day moving average of $1.92 and a 200-day moving average of $2.24. Coincheck Group has a one year low of $1.39 and a one year high of $9.31. The company has a market cap of $292.93 million, a PE ratio of 107.80 and a beta of 0.49.

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