JOANN Sees Unusually Large Options Volume (NASDAQ:JOAN)

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

JOANN Price Performance

JOAN stock opened at $0.08 on Thursday. The company has a market cap of $3.50 million, a P/E 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. The stock’s fifty day moving average price is $0.28 and its 200-day moving average price is $0.46.

Hedge Funds Weigh In On JOANN

A number of institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP raised its holdings in JOANN by 15.7% in the 3rd quarter. GSA Capital Partners LLP now owns 358,068 shares of the company’s stock worth $258,000 after purchasing an additional 48,682 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in JOANN during the second quarter valued at about $103,000. JPMorgan Chase & Co. raised its holdings in JOANN by 23,467.5% during the second quarter. JPMorgan Chase & Co. now owns 1,998,762 shares of the company’s stock valued at $1,747,000 after acquiring an additional 1,990,281 shares during the period. State Street Corp raised its holdings in JOANN by 12.8% during the first quarter. State Street Corp now owns 251,269 shares of the company’s stock valued at $400,000 after acquiring an additional 28,568 shares during the period. Finally, Geode Capital Management LLC raised its holdings in JOANN by 4.3% during the first quarter. Geode Capital Management LLC now owns 244,244 shares of the company’s stock valued at $388,000 after acquiring an additional 10,066 shares during the period. 72.10% of the stock is currently owned by hedge funds and other institutional investors.

JOANN Company Profile

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.