Coincheck Group N.V. (NASDAQ:CNCK) Short Interest Down 34.0% in July

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Cantor Fitzgerald decreased their price objective on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a research note on Friday, May 22nd. Finally, Zacks Research upgraded Coincheck Group from a “strong sell” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.75.

Institutional Trading of Coincheck Group

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Coincheck Group during the 4th quarter worth about $84,000. Goldman Sachs Group Inc. bought a new position in Coincheck Group in the 1st quarter valued at about $94,000. HRT Financial LP acquired a new stake in Coincheck Group during the fourth quarter worth approximately $132,000. JPMorgan Chase & Co. lifted its position in Coincheck Group by 22.3% during the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock worth $133,000 after acquiring an additional 5,257 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Coincheck Group during the second quarter worth approximately $192,000. Institutional investors and hedge funds own 33.22% of the company’s stock.

Coincheck Group Trading Down 2.2%

CNCK opened at $1.80 on Friday. Coincheck Group has a 1-year low of $1.40 and a 1-year high of $9.31. The stock’s fifty day simple moving average is $2.20 and its 200 day simple moving average is $2.19. The stock has a market cap of $293.36 million, a PE ratio of -20.00 and a beta of 0.45.

Coincheck Group (NASDAQ:CNCK) last announced its quarterly earnings results on Monday, June 29th. The company reported ($0.06) earnings per share (EPS) for the quarter. Coincheck Group had a negative net margin of 0.38% and a negative return on equity of 12.90%. The business had revenue of $752.40 million for the quarter. Equities analysts forecast that Coincheck Group will post -0.07 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.