Coincheck Group (NASDAQ:CNCK) Given "Sell (E+)" Rating at Weiss Ratings

Key Points

• Coincheck Group's stock received a "sell (E+)" rating from Weiss Ratings, with a current average rating of "Reduce" across analysts.
• The stock price is currently at $4.50, with a noted low of $4.22 and a high of $14.42 over the past year.
• Institutional investors have shown interest, with notable increases in stakes from multiple hedge funds, resulting in 33.22% of the stock being owned by such entities.

Coincheck Group (NASDAQ:CNCK - Get Free Report)'s stock had its "sell (e+)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Several other brokerages have also commented on CNCK. KeyCorp started coverage on Coincheck Group in a report on Wednesday, July 23rd. They set a "sector weight" rating for the company. Wall Street Zen upgraded Coincheck Group from a "strong sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $6.00 target price (down from $9.00) on shares of Coincheck Group in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $6.00.

Coincheck Group Stock Up 0.7%

Coincheck Group stock traded up $0.03 during mid-day trading on Tuesday, reaching $4.50. 9,076 shares of the company were exchanged, compared to its average volume of 57,685. The business has a fifty day moving average of $4.79 and a 200 day moving average of $5.49. Coincheck Group has a 12-month low of $4.22 and a 12-month high of $14.42.

Institutional Investors Weigh In On Coincheck Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. grew its position in Coincheck Group by 120.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company's stock worth $696,000 after purchasing an additional 69,377 shares during the period. SBI Securities Co. Ltd. grew its position in Coincheck Group by 74.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 37,438 shares of the company's stock worth $205,000 after purchasing an additional 16,019 shares during the period. Geode Capital Management LLC grew its position in Coincheck Group by 76.1% during the 2nd quarter. Geode Capital Management LLC now owns 36,986 shares of the company's stock worth $202,000 after purchasing an additional 15,983 shares during the period. Voya Investment Management LLC acquired a new stake in shares of Coincheck Group during the 3rd quarter valued at about $164,000. Finally, Marshall Wace LLP acquired a new stake in shares of Coincheck Group during the 2nd quarter valued at about $192,000. 33.22% of the stock is owned by institutional investors and hedge funds.

Coincheck Group Company Profile

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.

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