Cantor Fitzgerald Reiterates "Neutral" Rating for Coincheck Group (NASDAQ:CNCK)

Key Points

• Cantor Fitzgerald has reissued a "neutral" rating for Coincheck Group (NASDAQ:CNCK) with a price target of $6.00, indicating a potential upside of 19.76% from its current price.
• Coincheck Group's 12-month stock range is between $4.22 and $14.42, with the shares opening at $5.01 on Friday.
• Institutional investors currently hold 33.22% of Coincheck Group's stock, with several firms recently increasing their stakes in the company.

Cantor Fitzgerald reiterated their neutral rating on shares of Coincheck Group (NASDAQ:CNCK - Free Report) in a research report released on Friday morning, Marketbeat.com reports. They currently have a $6.00 target price on the stock, down from their previous target price of $9.00.

Several other research firms have also issued reports on CNCK. Wall Street Zen lowered shares of Coincheck Group from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. KeyCorp assumed coverage on shares of Coincheck Group in a research report on Wednesday, July 23rd. They set a "sector weight" rating on the stock.

Coincheck Group Stock Performance

Shares of NASDAQ:CNCK traded up $0.15 during trading on Friday, hitting $4.62. 90,207 shares of the company's stock were exchanged, compared to its average volume of 64,956. Coincheck Group has a 52-week low of $4.22 and a 52-week high of $14.42. The business's 50-day simple moving average is $5.34 and its 200 day simple moving average is $6.14.

Institutional Trading of Coincheck Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd acquired a new stake in Coincheck Group during the fourth quarter worth about $25,000. Goldman Sachs Group Inc. acquired a new position in shares of Coincheck Group during the first quarter worth about $94,000. SBI Securities Co. Ltd. increased its position in shares of Coincheck Group by 62.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 21,419 shares of the company's stock valued at $109,000 after purchasing an additional 8,243 shares during the last quarter. Jane Street Group LLC purchased a new stake in Coincheck Group during the 4th quarter worth about $134,000. Finally, Geode Capital Management LLC purchased a new position in shares of Coincheck Group during the fourth quarter worth about $137,000. Hedge funds and other institutional investors own 33.22% of the company's stock.

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.