CoinShares (NASDAQ:CSHR) Stock Gets Downgrade from Wall Street Zen

CoinShares (NASDAQ:CSHR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also issued reports on CSHR. Weiss Ratings raised shares of CoinShares from a “sell (e-)” rating to a “sell (e)” rating in a report on Tuesday, October 6th. Keefe, Bruyette & Woods raised their price objective on shares of CoinShares from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 15th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.00.

CoinShares Stock Performance

Shares of NASDAQ:CSHR opened at $3.88 on Friday. The company has a fifty day moving average of $5.26. The stock has a market cap of $511.31 million, a PE ratio of 21.56 and a beta of -1.39. CoinShares has a 52-week low of $3.51 and a 52-week high of $10.43.

CoinShares (NASDAQ:CSHR) last issued its earnings results on Monday, September 14th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $7.43 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP purchased a new position in shares of CoinShares during the 2nd quarter worth $85,000. Lineage Point Capital LP acquired a new stake in shares of CoinShares during the 2nd quarter worth about $222,000. Harraden Circle Investments LLC acquired a new stake in shares of CoinShares during the 2nd quarter worth about $12,067,000. Finally, Alyeska Investment Group L.P. purchased a new stake in CoinShares in the 2nd quarter valued at about $28,519,000.

About CoinShares

CoinShares (NASDAQ: CSHR) is a digital asset investment firm that provides investment products and services focused on cryptocurrencies and blockchain technology. The company helps institutional and professional investors gain exposure to digital assets through exchange-traded products, funds and other investment solutions.

Its offerings include physically backed cryptocurrency exchange-traded products, index-based products and actively managed strategies. CoinShares also provides capital-markets and advisory services, including liquidity, trading and structured-investment solutions for digital asset businesses and investors.