Coupang (NYSE:CPNG) Hits New 12-Month Low – Here’s What Happened

Coupang, Inc. (NYSE:CPNG)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $14.92 and last traded at $15.3520, with a volume of 2507935 shares changing hands. The stock had previously closed at $15.15.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CPNG. Morgan Stanley lowered their target price on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Barclays lifted their target price on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. UBS Group set a $25.00 target price on Coupang in a research report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.92.

Coupang Trading Up 4.4%

The business has a 50-day simple moving average of $18.15 and a two-hundred day simple moving average of $20.34. The stock has a market cap of $28.44 billion, a price-to-earnings ratio of -175.99 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.Coupang’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. Equities analysts forecast that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coupang news, Director Neil Mehta purchased 3,000,000 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the transaction, the director directly owned 52,978,114 shares in the company, valued at $989,631,169.52. This represents a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coupang

Several institutional investors and hedge funds have recently made changes to their positions in CPNG. EverSource Wealth Advisors LLC grew its position in shares of Coupang by 72.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after purchasing an additional 1,395 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Coupang by 52.8% in the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after purchasing an additional 8,107 shares during the last quarter. Cerity Partners LLC grew its position in shares of Coupang by 48.1% in the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after purchasing an additional 14,703 shares during the last quarter. State Street Corp grew its position in shares of Coupang by 8.4% in the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after purchasing an additional 1,210,801 shares during the last quarter. Finally, AXA S.A. acquired a new position in shares of Coupang in the second quarter valued at approximately $411,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

About Coupang

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.