Coincheck Group (NASDAQ:CNCK) Shares Gap Down - Here's What Happened

Key Points

• Coincheck Group (NASDAQ:CNCK) shares gapped down from $4.69 to $4.53 upon market opening, with a trading volume of 2,156 shares.
• Wall Street analysts have issued mixed ratings for Coincheck Group, maintaining a consensus "Hold" rating with a target price adjustment down to $6.00.
• Several large institutional investors have made significant changes to their positions in Coincheck Group, indicating increased interest, with total institutional ownership now at 33.22%.

Shares of Coincheck Group N.V. (NASDAQ:CNCK - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $4.69, but opened at $4.53. Coincheck Group shares last traded at $4.53, with a volume of 2,156 shares.

Wall Street Analysts Forecast Growth

CNCK has been the subject of a number of research reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $6.00 target price (down previously from $9.00) on shares of Coincheck Group in a report on Friday, August 8th. Wall Street Zen upgraded shares of Coincheck Group from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, KeyCorp initiated coverage on shares of Coincheck Group in a research report on Wednesday, July 23rd. They set a "sector weight" rating for the company. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Coincheck Group Stock Up 0.2%

The business's 50 day simple moving average is $4.98 and its two-hundred day simple moving average is $5.61.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in shares of Coincheck Group during the fourth quarter valued at about $911,000. Jane Street Group LLC purchased a new stake in Coincheck Group during the fourth quarter worth about $134,000. SBI Securities Co. Ltd. increased its holdings in Coincheck Group by 62.6% during the first quarter. SBI Securities Co. Ltd. now owns 21,419 shares of the company's stock worth $109,000 after buying an additional 8,243 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings 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 worth $696,000 after buying an additional 69,377 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Coincheck Group by 76.1% during the second quarter. Geode Capital Management LLC now owns 36,986 shares of the company's stock worth $202,000 after buying an additional 15,983 shares during the last quarter. 33.22% of the stock is 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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