Coupang, Inc. (NYSE:CPNG) Sees Large Growth in Short Interest

Coupang, Inc. (NYSE:CPNG) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 17,040,000 shares, an increase of 29.2% from the February 13th total of 13,190,000 shares. Based on an average daily volume of 7,760,000 shares, the short-interest ratio is presently 2.2 days. Currently, 1.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CPNG. Mizuho upped their price target on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Barclays set a $35.00 price target on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Citigroup decreased their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Coupang Trading Down 2.8 %

CPNG stock traded down $0.66 during midday trading on Tuesday, reaching $22.87. The company’s stock had a trading volume of 6,120,634 shares, compared to its average volume of 8,324,649. The business’s 50-day simple moving average is $23.31 and its 200-day simple moving average is $23.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a market cap of $41.28 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. Coupang has a 52 week low of $17.34 and a 52 week high of $26.91.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the sale, the vice president now owns 136,806 shares of the company’s stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coupang

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Coupang by 4.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares during the period. Angeles Wealth Management LLC raised its holdings in Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after purchasing an additional 459 shares during the period. Virtus ETF Advisers LLC raised its holdings in Coupang by 1.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock worth $975,000 after purchasing an additional 466 shares during the period. IFP Advisors Inc raised its holdings in Coupang by 3.8% in the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after purchasing an additional 469 shares during the period. Finally, Ignite Planners LLC raised its holdings in Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Company Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.