Short Interest in Coincheck Group N.V. (NASDAQ:CNCK) Drops By 34.0%

Coincheck Group N.V. (NASDAQ:CNCK) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 110,813 shares, a decrease of 34.0% from the June 30th total of 168,007 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 74,601 shares, the short-interest ratio is currently 1.5 days.

Coincheck Group Price Performance

Shares of CNCK traded down $0.12 during trading hours on Friday, reaching $1.72. 13,208 shares of the company’s stock traded hands, compared to its average volume of 518,692. The firm has a market capitalization of $280.65 million, a price-to-earnings ratio of -19.22 and a beta of 0.45. Coincheck Group has a twelve month low of $1.40 and a twelve month high of $9.31. The business’s fifty day simple moving average is $2.20 and its two-hundred day simple moving average is $2.19.

Coincheck Group (NASDAQ:CNCK) last posted its quarterly earnings data on Monday, June 29th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $752.40 million during the quarter. Coincheck Group had a negative return on equity of 12.90% and a negative net margin of 0.38%. On average, equities research analysts expect that Coincheck Group will post -0.07 EPS for the current year.

Institutional Trading of Coincheck Group

A number of institutional investors have recently made changes to their positions in CNCK. Virtu Financial LLC acquired a new position in shares of Coincheck Group during the fourth quarter valued at approximately $84,000. Goldman Sachs Group Inc. acquired a new position in shares of Coincheck Group during the 1st quarter valued at $94,000. HRT Financial LP bought a new stake in shares of Coincheck Group in the 4th quarter worth $132,000. JPMorgan Chase & Co. raised its stake in shares of Coincheck Group by 22.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock worth $133,000 after buying an additional 5,257 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake 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

Several analysts recently weighed in on the stock. Zacks Research downgraded shares of Coincheck Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a report on Friday, May 22nd. Finally, Cantor Fitzgerald reduced their price objective 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. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $3.75.

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.