Coincheck Group (NASDAQ:CNCK) Trading Down 3.9% – What’s Next?

Shares of Coincheck Group N.V. (NASDAQ:CNCK) traded down 3.9% on Friday . The stock traded as low as $4.50 and last traded at $4.68. 15,218 shares were traded during trading, a decline of 74% from the average session volume of 58,227 shares. The stock had previously closed at $4.87.

Analyst Ratings Changes

CNCK has been the subject of several recent research reports. Wall Street Zen raised Coincheck Group from a “strong sell” rating to a “hold” rating in a report on Sunday, August 17th. KeyCorp began coverage on shares of Coincheck Group in a research report on Wednesday, July 23rd. They set a “sector weight” rating for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $6.00 price target (down previously from $9.00) on shares of Coincheck Group in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Coincheck Group in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $6.00.

Coincheck Group Price Performance

The firm’s 50-day moving average is $4.82 and its 200-day moving average is $5.52.

Hedge Funds Weigh In On Coincheck Group

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in Coincheck Group in the 4th quarter worth approximately $134,000. Goldman Sachs Group Inc. bought a new position in Coincheck Group during the first quarter valued at approximately $94,000. SBI Securities Co. Ltd. raised its stake in shares of Coincheck Group by 62.6% during the first quarter. SBI Securities Co. Ltd. now owns 21,419 shares of the company’s stock worth $109,000 after acquiring an additional 8,243 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Coincheck Group in the 2nd quarter worth approximately $192,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Coincheck Group by 76.1% in the 2nd quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock worth $202,000 after acquiring an additional 15,983 shares during the last quarter. 33.22% of the stock is owned by hedge funds and other institutional investors.

About Coincheck Group

Coincheck Group NV. is a Dutch public limited liability company and a holding company of Coincheck, Inc which operates one of the largest multi-cryptocurrency marketplaces and crypto asset exchanges in Japan and is regulated by the Financial Services Agency of Japan. The company was founded on February 18, 2022 and is headquartered in Amsterdam, Netherland.