Coincheck Group N.V. (NASDAQ:CNCK) Short Interest Down 58.8% in June

Coincheck Group N.V. (NASDAQ:CNCK) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totaling 233,007 shares, a drop of 58.8% from the May 31st total of 564,881 shares. Based on an average trading volume of 106,520 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Kepos Capital LP bought a new position in Coincheck Group during the fourth quarter valued at approximately $661,000. Geode Capital Management LLC lifted its stake in shares of Coincheck Group by 570.9% in the 4th quarter. Geode Capital Management LLC now owns 265,451 shares of the company’s stock valued at $669,000 after purchasing an additional 225,882 shares during the last quarter. Ghisallo Capital Management LLC boosted its holdings in Coincheck Group by 23.5% in the fourth quarter. Ghisallo Capital Management LLC now owns 1,055,172 shares of the company’s stock worth $2,659,000 after purchasing an additional 200,930 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Coincheck Group by 120.0% in 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. Finally, HRT Financial LP bought a new position in Coincheck Group in the 4th quarter worth $132,000. Hedge funds and other institutional investors own 33.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen upgraded Coincheck Group from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Coincheck Group in a report on Friday, May 22nd. Finally, Cantor Fitzgerald lowered their target price on shares of Coincheck Group from $2.70 to $2.50 and set a “neutral” rating for the company in a report on Wednesday, May 13th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Coincheck Group has a consensus rating of “Hold” and an average price target of $3.75.

Coincheck Group Stock Up 1.8%

NASDAQ:CNCK traded up $0.04 during trading hours on Monday, reaching $2.28. 79,105 shares of the stock were exchanged, compared to its average volume of 605,713. The stock has a market capitalization of $309.92 million, a P/E ratio of 114.06 and a beta of 0.49. The firm has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $2.27. Coincheck Group has a 52 week low of $1.39 and a 52 week high of $9.31.

Coincheck Group (NASDAQ:CNCK) last released its quarterly earnings data on Tuesday, May 12th. The company reported $999.00 earnings per share for the quarter. Coincheck Group had a negative net margin of 0.38% and a negative return on equity of 12.42%. As a group, analysts expect that Coincheck Group will post -0.04 earnings per share for the current year.

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.