JOANN Inc. (NASDAQ:JOAN – Get Rating) was the target of some unusual options trading activity on Thursday. Stock investors purchased 2,948 put options on the company. This represents an increase of approximately 2,100% compared to the typical volume of 134 put options.
JOANN Price Performance
JOANN stock opened at $3.49 on Friday. JOANN has a 52 week low of $2.46 and a 52 week high of $13.55. The business has a 50-day simple moving average of $4.12 and a 200 day simple moving average of $6.34. The company has a quick ratio of 0.19, a current ratio of 1.52 and a debt-to-equity ratio of 24.54. The stock has a market cap of $142.35 million, a price-to-earnings ratio of -1.49 and a beta of 1.08.
Hedge Funds Weigh In On JOANN
A number of hedge funds and other institutional investors have recently modified their holdings of JOAN. Crawford Investment Counsel Inc. lifted its stake in shares of JOANN by 30.8% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 401,872 shares of the company’s stock valued at $3,115,000 after acquiring an additional 94,640 shares during the last quarter. First Heartland Consultants Inc. bought a new position in JOANN during the 2nd quarter valued at approximately $85,000. Principal Financial Group Inc. bought a new position in shares of JOANN in the 2nd quarter worth approximately $91,000. Royce & Associates LP raised its position in shares of JOANN by 55.4% in the 2nd quarter. Royce & Associates LP now owns 2,670,216 shares of the company’s stock worth $20,694,000 after acquiring an additional 951,860 shares in the last quarter. Finally, Delphia USA Inc. purchased a new stake in shares of JOANN in the 1st quarter worth approximately $276,000. 91.23% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. Its products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.
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