Coupang (NYSE:CPNG) Reaches New 52-Week Low – Time to Sell?

Coupang, Inc. (NYSE:CPNG)’s stock price hit a new 52-week low on Thursday. The company traded as low as $14.05 and last traded at $14.0530, with a volume of 1922351 shares trading hands. The stock had previously closed at $14.28.

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research note on Thursday, July 9th. Bank of America lowered their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Mizuho set a $22.00 target price on shares of Coupang in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. Finally, Barclays restated an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Coupang currently has a consensus rating of “Hold” and a consensus target price of $24.06.

Coupang Trading Down 0.0%

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The stock has a market cap of $24.94 billion, a P/E ratio of -32.27 and a beta of 1.15. The company has a 50-day simple moving average of $15.64 and a 200-day simple moving average of $17.30.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The company had revenue of $8.86 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the business earned $0.02 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Insider Activity

In other Coupang news, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the sale, the insider owned 740,931 shares in the company, valued at approximately $11,988,263.58. This trade represents a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by corporate insiders.

Institutional Trading of Coupang

Several hedge funds have recently modified their holdings of CPNG. Sequoia Financial Advisors LLC raised its position in Coupang by 18.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 89,534 shares of the company’s stock worth $1,555,000 after purchasing an additional 13,666 shares during the last quarter. MCF Advisors LLC boosted its position in Coupang by 806.8% in the 2nd quarter. MCF Advisors LLC now owns 13,793 shares of the company’s stock valued at $240,000 after buying an additional 12,272 shares during the last quarter. Engineers Gate Manager LP bought a new position in Coupang in the 2nd quarter valued at $6,081,000. Carrhae Capital LLP acquired a new stake in shares of Coupang in the 2nd quarter valued at $38,187,000. Finally, Light Street Capital Management LLC increased its stake in shares of Coupang by 92.5% in the 2nd quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company’s stock valued at $35,174,000 after buying an additional 973,043 shares during the period. 83.72% of the stock is owned by institutional investors.

About Coupang

Coupang, Inc (NYSE: CPNG) is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.