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

Key Points

• Coincheck Group's shares gapped down from $4.90 to $4.76 at market open, with the stock last trading at $4.88 and a volume of 1,119 shares.
• Wall Street analysts have rated Coincheck Group stock as "Hold," with a consensus price target of $6.00 following reassessments from firms like Cantor Fitzgerald and Wall Street Zen.
• Institutional investors currently own 33.22% of Coincheck Group, with notable increases in stakes from firms such as Goldman Sachs and Geode Capital Management.

Coincheck Group N.V. (NASDAQ:CNCK - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.90, but opened at $4.76. Coincheck Group shares last traded at $4.88, with a volume of 1,119 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNCK. Wall Street Zen raised shares of Coincheck Group from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 17th. Cantor Fitzgerald restated a "neutral" rating and set a $6.00 price target (down from $9.00) on shares of Coincheck Group in a report on Friday, August 8th. Finally, KeyCorp began coverage on shares of Coincheck Group in a research note on Wednesday, July 23rd. They issued a "sector weight" rating for the company. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.00.

Coincheck Group Stock Performance

The stock's 50-day moving average is $4.84 and its 200-day moving average is $5.55.

Institutional Investors Weigh In On Coincheck Group

Several institutional investors and hedge funds have recently made changes to their positions in CNCK. Goldman Sachs Group Inc. acquired a new stake in shares of Coincheck Group in the 1st quarter valued at $94,000. SBI Securities Co. Ltd. boosted its stake 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 in the last quarter. Jane Street Group LLC acquired a new stake in shares of Coincheck Group in the 4th quarter valued at $134,000. Marshall Wace LLP acquired a new stake in shares of Coincheck Group in the 2nd quarter valued at $192,000. Finally, Geode Capital Management LLC boosted its stake in shares of Coincheck Group by 76.1% in the 2nd quarter. Geode Capital Management LLC now owns 36,986 shares of the company's stock valued at $202,000 after purchasing an additional 15,983 shares in the last quarter. Institutional investors and hedge funds 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.

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