CoinShares (NASDAQ:CSHR) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of CoinShares (NASDAQ:CSHR) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings raised shares of CoinShares from a “sell (e-)” rating to a “sell (e)” rating in a research report on Tuesday, October 6th. Keefe, Bruyette & Woods lifted their price target on shares of CoinShares from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.00.

CoinShares Trading Down 1.0%

NASDAQ:CSHR opened at $3.84 on Friday. CoinShares has a twelve month low of $3.51 and a twelve month high of $10.43. The business’s 50 day moving average price is $5.24. The firm has a market cap of $506.04 million, a P/E ratio of 21.56 and a beta of -1.39.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. bought a new position in shares of CoinShares in the second quarter valued at $28,519,000. Harraden Circle Investments LLC acquired a new position in CoinShares during the second quarter worth $12,067,000. Corient Private Wealth LP acquired a new position in CoinShares during the second quarter worth $85,000. Finally, Lineage Point Capital LP acquired a new position in CoinShares during the second quarter worth $222,000.

CoinShares Company Profile

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.