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 stock. This represents an increase of approximately 89% compared to the typical daily volume of 26,601 call options.

Coupang Stock Down 1.9%

Shares of CPNG stock traded down $0.35 on Friday, hitting $18.80. The company’s stock had a trading volume of 12,735,403 shares, compared to its average volume of 18,898,428. The stock has a market capitalization of $33.76 billion, a price-to-earnings ratio of -208.92 and a beta of 1.11. The firm’s fifty day moving average price is $17.14 and its 200-day moving average price is $19.05. Coupang has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. 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 issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue was up 7.5% on a year-over-year basis. Research analysts anticipate that Coupang will post -0.33 EPS for the current year.

Hedge Funds Weigh In On Coupang

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbelt Securities Inc. bought a new stake in shares of Coupang in the third quarter valued at about $26,000. Reflection Asset Management acquired a new position in Coupang in the fourth quarter valued at about $28,000. LGT Financial Advisors LLC bought a new stake in Coupang during the third quarter worth about $52,000. Webster Bank N. A. raised its position in Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Coupang in the fourth quarter valued at $42,000. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a report on Wednesday, May 6th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Barclays reiterated an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research report on Tuesday. Finally, Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.02.

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.