JOANN Sees Unusually Large Options Volume (NASDAQ:JOAN)

JOANN Inc. (NASDAQ:JOAN) was the recipient of unusually large options trading on Wednesday. Investors purchased 8,243 call options on the company. This is an increase of approximately 1,658% compared to the typical volume of 469 call options.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. UBS Group AG grew its holdings in shares of JOANN by 141.5% during the second quarter. UBS Group AG now owns 3,383 shares of the company’s stock worth $26,000 after purchasing an additional 1,982 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in JOANN by 86.7% in the first quarter. Geneos Wealth Management Inc. now owns 2,800 shares of the company’s stock valued at $31,000 after acquiring an additional 1,300 shares during the last quarter. BNP Paribas Arbitrage SNC bought a new position in JOANN in the third quarter valued at about $33,000. JPMorgan Chase & Co. boosted its holdings in JOANN by 153.4% in the fourth quarter. JPMorgan Chase & Co. now owns 14,962 shares of the company’s stock valued at $43,000 after acquiring an additional 9,058 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in JOANN in the fourth quarter valued at about $64,000. 72.10% of the stock is currently owned by institutional investors and hedge funds.

JOANN Trading Up 9.8 %

JOAN opened at $0.08 on Thursday. The business has a 50 day moving average of $0.28 and a 200-day moving average of $0.46. The stock has a market capitalization of $3.50 million, a price-to-earnings ratio of -0.01 and a beta of 0.99. JOANN has a 1-year low of $0.08 and a 1-year high of $2.19.

About JOANN

JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. The company 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; pillow forms; stuffing, batting, and foams; 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.