Coupang (NYSE:CPNG) Sets New 52-Week Low – Here’s Why

Coupang, Inc. (NYSE:CPNG)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $16.48 and last traded at $16.4080, with a volume of 2338992 shares trading hands. The stock had previously closed at $16.98.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Nomura dropped their price objective on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley dropped their price objective on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.92.

Coupang Price Performance

The company’s 50 day moving average price is $19.40 and its 200-day moving average price is $22.31. The stock has a market cap of $29.12 billion, a P/E ratio of -176.95 and a beta of 1.20. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the previous year, the business posted $0.06 EPS. Coupang’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that Coupang, Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Neil Mehta bought 3,000,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the purchase, the director directly owned 52,978,114 shares of the company’s stock, valued at approximately $989,631,169.52. This represents a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 7,350,104 shares of company stock worth $136,566,051 over the last ninety days. 12.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coupang

Hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new position in Coupang during the third quarter worth $26,000. Orion Capital Management LLC bought a new position in Coupang during the third quarter worth $32,000. Fifth Third Bancorp raised its stake in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the last quarter. Reflection Asset Management bought a new position in Coupang during the fourth quarter worth $28,000. Finally, Root Financial Partners LLC bought a new position in Coupang during the third quarter worth $40,000. Institutional investors own 83.72% of the company’s stock.

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.