Coupang (NYSE:CPNG) Sees Unusually-High Trading Volume

Shares of Coupang, Inc. (NYSE:CPNGGet Rating) saw an uptick in trading volume on Friday . 466,197 shares changed hands during mid-day trading, a decline of 93% from the previous session’s volume of 6,270,415 shares.The stock last traded at $18.37 and had previously closed at $19.97.

Analyst Upgrades and Downgrades

Several brokerages have commented on CPNG. CLSA lowered shares of Coupang from an “outperform” rating to a “sell” rating and set a $16.40 price objective for the company. in a report on Tuesday, August 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and increased their price objective for the company from $15.00 to $18.50 in a research report on Thursday, August 11th. Mizuho cut their price objective on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley increased their price objective on shares of Coupang from $18.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, August 15th. Finally, Macquarie started coverage on shares of Coupang in a report on Tuesday, August 9th. They set an “outperform” rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.37.

Coupang Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.21 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $17.44 and its 200-day moving average price is $15.74. The stock has a market capitalization of $33.81 billion, a PE ratio of -56.29 and a beta of 1.02.

Coupang (NYSE:CPNGGet Rating) last announced its earnings results on Wednesday, August 10th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.22 billion. Coupang had a negative net margin of 2.95% and a negative return on equity of 28.61%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.13) earnings per share. As a group, equities analysts forecast that Coupang, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Coupang

Several hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its position in Coupang by 5.8% in the second quarter. Advisors Asset Management Inc. now owns 11,923 shares of the company’s stock valued at $152,000 after buying an additional 655 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its position in Coupang by 38.9% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,500 shares of the company’s stock worth $32,000 after purchasing an additional 700 shares in the last quarter. Visionary Wealth Advisors lifted its position in shares of Coupang by 6.3% during the 2nd quarter. Visionary Wealth Advisors now owns 11,810 shares of the company’s stock valued at $151,000 after buying an additional 700 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Coupang by 1.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 81,235 shares of the company’s stock valued at $1,436,000 after buying an additional 818 shares in the last quarter. Finally, CWM LLC raised its stake in Coupang by 0.8% in the 3rd quarter. CWM LLC now owns 122,171 shares of the company’s stock valued at $2,037,000 after purchasing an additional 923 shares during the last quarter. Institutional investors and hedge funds own 71.59% of the company’s stock.

About Coupang

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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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