Coincheck Group (NASDAQ:CNCK) Shares Gap Up – Here’s Why

by · The Markets Daily

Shares of Coincheck Group N.V. (NASDAQ:CNCK – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $3.24, but opened at $3.64. Coincheck Group shares last traded at $4.51, with a volume of 1,082,294 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNCK. Wall Street Zen upgraded shares of Coincheck Group from a “strong sell” rating to a “hold” rating in a report on Sunday, August 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $6.00 price objective (down from $9.00) on shares of Coincheck Group in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a research note on Monday, November 24th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $6.00.

Read Our Latest Report on CNCK

Coincheck Group Trading Up 114.2%

The company has a market capitalization of $900.12 million, a P/E ratio of -7.98 and a beta of 0.07. The business has a 50 day moving average price of $4.02 and a 200 day moving average price of $4.84.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new stake in Coincheck Group during the 1st quarter worth approximately $94,000. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 5,257 shares during the period. Voya Investment Management LLC acquired a new stake in shares of Coincheck Group in the 3rd quarter valued at $164,000. Marshall Wace LLP bought a new position in Coincheck Group in the second quarter valued at about $192,000. Finally, Geode Capital Management LLC grew its holdings in shares of 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 last quarter. 33.22% of the stock is owned by institutional investors and hedge funds.

About Coincheck Group

(Get Free Report)

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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