Coincheck Group (NASDAQ:CNCK) Sets New 52-Week Low - Here's What Happened

Key Points

• Coincheck Group shares hit a new 52-week low of $4.15, down from the previous close of $4.42, with a trading volume of 41,009 shares.
• Analysts have a mixed outlook on the stock, with Cantor Fitzgerald lowering its target price to $6.00 and Weiss Ratings maintaining a "sell" rating.
• Institutional investors are showing interest, with Balyasny Asset Management increasing its position by 120% and several firms acquiring new stakes in Coincheck Group.

Coincheck Group N.V. (NASDAQ:CNCK - Get Free Report) shares hit a new 52-week low on Thursday . The stock traded as low as $4.15 and last traded at $4.17, with a volume of 41009 shares changing hands. The stock had previously closed at $4.42.

Analyst Ratings Changes

A number of research firms recently weighed in on CNCK. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $6.00 target price (down previously from $9.00) on shares of Coincheck Group in a report on Friday, August 8th. KeyCorp started coverage on shares of Coincheck Group in a report on Wednesday, July 23rd. They issued a "sector weight" rating on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Coincheck Group in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded Coincheck Group from a "strong sell" rating to a "hold" rating in a research note on Sunday, August 17th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $6.00.

Coincheck Group Price Performance

The stock has a 50 day moving average of $4.76 and a 200 day moving average of $5.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNCK. Balyasny Asset Management L.P. grew its position in Coincheck Group by 120.0% during the second quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company's stock valued at $696,000 after acquiring an additional 69,377 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Coincheck Group during the 3rd quarter valued at $164,000. Marshall Wace LLP bought a new position in shares of Coincheck Group during the 2nd quarter valued at $192,000. Goldman Sachs Group Inc. bought a new position in shares of Coincheck Group during the 1st quarter valued at $94,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Coincheck Group by 74.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 37,438 shares of the company's stock valued at $205,000 after purchasing an additional 16,019 shares during the last quarter. 33.22% of the stock is currently owned by institutional investors.

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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