Coincheck Group (NASDAQ:CNCK) Issues Quarterly Earnings Results

Coincheck Group (NASDAQ:CNCK) released its quarterly earnings data on Thursday. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02, Zacks reports. Coincheck Group had a negative return on equity of 152.38% and a negative net margin of 2.54%.

Coincheck Group Stock Down 8.0%

Coincheck Group stock traded down $0.22 during midday trading on Thursday, reaching $2.54. The stock had a trading volume of 22,012 shares, compared to its average volume of 217,303. The firm has a market cap of $345.26 million, a price-to-earnings ratio of -2.92 and a beta of 0.10. Coincheck Group has a 52-week low of $2.00 and a 52-week high of $9.49. The company has a fifty day moving average of $2.97 and a 200 day moving average of $3.94.

Hedge Funds Weigh In On Coincheck Group

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new stake in shares of Coincheck Group during the first quarter worth $94,000. Geode Capital Management LLC boosted its position in 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 in the last quarter. Marshall Wace LLP purchased a new stake in Coincheck Group in the 2nd quarter worth $192,000. Balyasny Asset Management L.P. raised its position in shares of Coincheck Group by 120.0% during the 2nd quarter. Balyasny Asset Management L.P. now owns 127,213 shares of the company’s stock worth $696,000 after purchasing an additional 69,377 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Coincheck Group by 22.3% in the third 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 last quarter. Hedge funds and other institutional investors own 33.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Coincheck Group to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Coincheck Group in a research note on Monday, December 29th. Finally, Compass Point began coverage on shares of Coincheck Group in a research report on Tuesday, January 6th. They issued a “buy” rating and a $5.00 price target for the company. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.50.

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.