Wall Street Zen Upgrades Coincheck Group (NASDAQ:CNCK) to Hold

Key Points

• Wall Street Zen has upgraded Coincheck Group (NASDAQ:CNCK) from a "strong sell" rating to a "hold" rating, indicating a more favorable outlook for investors.
• The stock opened at $4.77 and has fluctuated between a one year low of $4.22 and a high of $14.42, reflecting significant market volatility.
• Approximately 33.22% of Coincheck Group's shares are currently owned by institutional investors, highlighting interest from large financial entities.

Wall Street Zen upgraded shares of Coincheck Group (NASDAQ:CNCK - Free Report) from a strong sell rating to a hold rating in a report released on Sunday morning.

CNCK has been the topic of a number of other research reports. KeyCorp assumed coverage on shares of Coincheck Group in a research report on Wednesday, July 23rd. They set a "sector weight" rating on the stock. Cantor Fitzgerald reiterated a "neutral" rating and set a $6.00 price objective (down previously 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, According to data from MarketBeat, Coincheck Group currently has an average rating of "Hold" and a consensus target price of $6.00.

Coincheck Group Trading Down 0.2%

CNCK stock traded down $0.01 during mid-day trading on Friday, reaching $4.57. 24,768 shares of the stock traded hands, compared to its average volume of 62,158. Coincheck Group has a one year low of $4.22 and a one year high of $14.42. The business has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $5.96.

Institutional Trading of Coincheck Group

A number of large investors have recently made changes to their positions in the stock. Ghisallo Capital Management LLC purchased a new stake in shares of Coincheck Group during the fourth quarter valued at $10,439,000. Linden Advisors LP purchased a new stake in shares of Coincheck Group during the fourth quarter valued at $1,397,000. Balyasny Asset Management L.P. boosted its stake in shares of 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 purchasing an additional 69,377 shares during the period. Shay Capital LLC purchased a new stake in shares of Coincheck Group during the fourth quarter valued at $1,005,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Coincheck Group during the fourth quarter valued at $911,000. 33.22% of the stock is owned by hedge funds and other institutional investors.

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.