Coincheck Group (NASDAQ:CNCK) Earns Buy Rating from Analysts at Compass Point

Compass Point began coverage on shares of Coincheck Group (NASDAQ:CNCK) in a research report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $5.00 target price on the stock.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Coincheck Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Coincheck Group Trading Up 5.6%

Shares of NASDAQ CNCK opened at $2.81 on Tuesday. Coincheck Group has a 1 year low of $2.00 and a 1 year high of $10.52. The firm’s 50-day moving average is $3.51 and its 200-day moving average is $4.45. The firm has a market capitalization of $364.46 million, a PE ratio of -3.23 and a beta of 0.09.

Institutional Trading of Coincheck Group

A number of large investors have recently made changes to their positions in CNCK. Goldman Sachs Group Inc. acquired a new stake in Coincheck Group during the 1st quarter worth $94,000. JPMorgan Chase & Co. grew its stake in Coincheck Group by 22.3% in the third quarter. JPMorgan Chase & Co. now owns 28,788 shares of the company’s stock valued at $133,000 after acquiring an additional 5,257 shares during the period. Marshall Wace LLP bought a new stake in shares of Coincheck Group in the second quarter worth about $192,000. Voya Investment Management LLC acquired a new stake in shares of Coincheck Group during the third quarter worth about $164,000. Finally, Geode Capital Management LLC raised its position in shares of Coincheck Group by 76.1% during the second quarter. Geode Capital Management LLC now owns 36,986 shares of the company’s stock worth $202,000 after purchasing an additional 15,983 shares during the period. Institutional investors own 33.22% of the company’s stock.

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.