Coincheck Group (NASDAQ:CNCK) Stock Rating Upgraded by Wall Street Zen

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 research report sent to investors on Sunday morning.

A number of other research analysts have also weighed in on CNCK. KeyCorp started coverage on shares of Coincheck Group in a research note on Wednesday, July 23rd. They issued a "sector weight" rating on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $6.00 price target (down from $9.00) on shares of Coincheck Group in a research note on Friday, August 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Coincheck Group has a consensus rating of "Hold" and a consensus target price of $6.00.

Coincheck Group Trading Down 1.3%

Shares of CNCK stock traded down $0.06 during mid-day trading on Friday, hitting $4.53. 23,009 shares of the stock were exchanged, compared to its average volume of 64,465. The firm has a fifty day moving average of $5.29 and a 200 day moving average of $5.99. Coincheck Group has a 52-week low of $4.22 and a 52-week high of $14.42.

Institutional Trading of Coincheck Group

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in Coincheck Group in the 4th quarter valued at about $911,000. JPMorgan Chase & Co. acquired a new stake in Coincheck Group in the 4th quarter valued at about $533,000. Linden Advisors LP acquired a new stake in Coincheck Group in the 4th quarter valued at about $1,397,000. Ghisallo Capital Management LLC acquired a new stake in Coincheck Group in the 4th quarter valued at about $10,439,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Coincheck Group in the 4th quarter valued at about $362,000. Institutional investors and hedge funds own 33.22% of the company's stock.

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.