Coupang, Inc. (NYSE:CPNG – Get Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 41,340,000 shares, a growth of 44.5% from the April 30th total of 28,610,000 shares. Based on an average trading volume of 13,090,000 shares, the short-interest ratio is currently 3.2 days. Approximately 4.1% of the company’s shares are short sold.
In other news, Director Kevin M. Warsh bought 38,372 shares of the stock in a transaction on Tuesday, May 17th. The stock was purchased at an average cost of $13.14 per share, with a total value of $504,208.08. Following the purchase, the director now owns 359,034 shares of the company’s stock, valued at $4,717,706.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael Parker sold 72,891 shares of Coupang stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $13.00, for a total transaction of $947,583.00. Following the completion of the sale, the chief accounting officer now directly owns 38,575 shares of the company’s stock, valued at $501,475. The disclosure for this sale can be found here. Insiders sold a total of 50,192,881 shares of company stock valued at $1,046,724,993 over the last ninety days.
Hedge funds have recently modified their holdings of the business. Zullo Investment Group Inc. acquired a new position in Coupang in the 4th quarter worth $27,000. Industrial Alliance Investment Management Inc. acquired a new position in Coupang in the 4th quarter worth $28,000. Harbor Investment Advisory LLC lifted its holdings in Coupang by 14,350.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,734 shares of the company’s stock worth $31,000 after buying an additional 1,722 shares in the last quarter. Spire Wealth Management lifted its holdings in Coupang by 151.5% in the 4th quarter. Spire Wealth Management now owns 1,250 shares of the company’s stock worth $37,000 after buying an additional 753 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Coupang by 244.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,240 shares of the company’s stock worth $40,000 after buying an additional 1,590 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.
CPNG has been the subject of several research reports. Citigroup raised shares of Coupang from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $29.00 to $15.00 in a research note on Thursday, May 12th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating in a research note on Tuesday, March 22nd. JPMorgan Chase & Co. raised shares of Coupang from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $25.00 to $17.00 in a research note on Friday, May 6th. Zacks Investment Research raised shares of Coupang from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday, May 12th. Finally, UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $27.14.
Shares of NYSE:CPNG traded up $0.06 during midday trading on Friday, hitting $13.41. 12,056,704 shares of the company’s stock traded hands, compared to its average volume of 16,079,422. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.22. The company has a market cap of $23.63 billion, a PE ratio of -15.96 and a beta of 0.82. The firm’s fifty day moving average price is $15.17 and its two-hundred day moving average price is $21.04. Coupang has a twelve month low of $8.98 and a twelve month high of $46.00.
Coupang (NYSE:CPNG – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.53. Coupang had a negative net margin of 7.54% and a negative return on equity of 48.47%. During the same period last year, the company posted ($0.68) EPS. As a group, equities research analysts anticipate that Coupang will post -0.43 EPS for the current fiscal year.
Coupang Company Profile (Get Rating)
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.
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