Stock Traders Buy Large Volume of Call Options on Coupang (NYSE:CPNG)

Coupang, Inc. (NYSE:CPNG) was the recipient of some unusual options trading on Friday. Investors purchased 50,384 call options on the company. This represents an increase of approximately 89% compared to the average daily volume of 26,601 call options.

Coupang Stock Down 0.9%

Shares of NYSE:CPNG traded down $0.17 during trading on Friday, reaching $19.00. The stock had a trading volume of 2,714,839 shares, compared to its average volume of 23,748,527. The firm’s 50-day simple moving average is $17.17 and its 200 day simple moving average is $19.06. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. Coupang has a one year low of $14.92 and a one year high of $34.08. The company has a market capitalization of $34.10 billion, a P/E ratio of -210.70 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the firm earned $0.06 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. As a group, research analysts expect that Coupang will post -0.33 EPS for the current fiscal year.

Institutional Trading of Coupang

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. acquired a new stake in shares of Coupang in the 3rd quarter worth $26,000. Reflection Asset Management acquired a new position in Coupang during the 4th quarter valued at about $28,000. Webster Bank N. A. increased its position in Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares in the last quarter. Main Street Group LTD purchased a new stake in Coupang in the first quarter valued at about $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Coupang in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

CPNG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a report on Wednesday, May 6th. CLSA assumed coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Finally, Bank of America dropped their target price on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Coupang currently has a consensus rating of “Hold” and a consensus target price of $26.02.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.