Coincheck Group N.V. (NASDAQ:CNCK) Short Interest Update

Key Points

• Short interest fell 34% to 110,813 shares as of July 15, representing 0.2% of the float and 1.5 days to cover.
• Analyst sentiment remains negative: Coincheck has an average “Reduce” rating, with a consensus price target of $3.75; recent actions included a lower $2.50 target from Cantor Fitzgerald and a “strong sell” downgrade from Zacks Research.
• CNCK shares dropped 6.4% to $1.72, well below their 52-week high of $9.31. The company reported a quarterly loss of $0.06 per share, while institutional investors and hedge funds own 33.22% of the stock.

Coincheck Group N.V. (NASDAQ:CNCK - Get Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 110,813 shares, a decrease of 34.0% from the June 30th total of 168,007 shares. Based on an average trading volume of 74,601 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.2% of the company's stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald dropped their target price on shares of Coincheck Group from $2.70 to $2.50 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Zacks Research cut shares of Coincheck Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Coincheck Group in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Coincheck Group currently has an average rating of "Reduce" and a consensus price target of $3.75.

Coincheck Group Stock Down 6.4%

CNCK stock traded down $0.12 during trading on Friday, hitting $1.72. 13,208 shares of the company's stock traded hands, compared to its average volume of 518,692. Coincheck Group has a 52 week low of $1.40 and a 52 week high of $9.31. The stock has a fifty day moving average price of $2.20 and a two-hundred day moving average price of $2.19. The stock has a market capitalization of $280.65 million, a price-to-earnings ratio of -19.22 and a beta of 0.45.

Coincheck Group (NASDAQ:CNCK - Get Free Report) last posted its quarterly earnings results on Monday, June 29th. The company reported ($0.06) EPS for the quarter. Coincheck Group had a negative net margin of 0.38% and a negative return on equity of 12.90%. The business had revenue of $752.40 million during the quarter. As a group, equities research analysts expect that Coincheck Group will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Coincheck Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Coincheck Group by 22.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company's stock worth $133,000 after purchasing an additional 5,257 shares during the period. Millennium Management LLC boosted its position in Coincheck Group by 25.1% during the 3rd quarter. Millennium Management LLC now owns 78,238 shares of the company's stock valued at $362,000 after purchasing an additional 15,710 shares during the period. Geode Capital Management LLC boosted 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 valued at $202,000 after purchasing an additional 15,983 shares during the period. Goldman Sachs Group Inc. bought a new position in Coincheck Group during the 1st quarter worth $94,000. Finally, Virtu Financial LLC bought a new position in Coincheck Group during the 4th quarter worth $84,000. 33.22% of the stock is currently owned by institutional investors and hedge funds.

Coincheck Group Company Profile

Coincheck Group NASDAQ: CNCK is a digital asset platform specializing in cryptocurrency trading and blockchain-based financial services. Headquartered in Tokyo, Japan, Coincheck operates one of the country’s largest cryptocurrency exchanges, offering a suite of services for both retail and institutional clients. Its platform supports spot trading of major digital assets such as Bitcoin, Ethereum and a variety of altcoins, complemented by secure wallet solutions and a range of order types designed to meet diverse trading needs.

Originally established in 2012, Coincheck gained early prominence in Japan’s evolving digital currency market.

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