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

Coupang, Inc. (NYSE:CPNG) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 14,760,000 shares, an increase of 7.3% from the December 31st total of 13,750,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 7,620,000 shares, the days-to-cover ratio is currently 1.9 days.

Coupang Stock Performance

Shares of CPNG traded up $0.32 during mid-day trading on Tuesday, hitting $23.90. The stock had a trading volume of 451,788 shares, compared to its average volume of 5,894,565. The company has a market cap of $42.99 billion, a PE ratio of 41.93, a PEG ratio of 42.58 and a beta of 1.11. The company’s fifty day simple moving average is $23.07 and its two-hundred day simple moving average is $23.43. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang has a fifty-two week low of $13.66 and a fifty-two week high of $26.91.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. On average, equities analysts expect that Coupang will post 0.14 earnings per share for the current year.

Insider Activity at Coupang

In related news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at approximately $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Coupang

Several hedge funds have recently bought and sold shares of CPNG. Wingate Wealth Advisors Inc. bought a new stake in shares of Coupang in the 4th quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in shares of Coupang during the 3rd quarter worth approximately $28,000. Asset Dedication LLC lifted its position in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after buying an additional 990 shares during the period. Berbice Capital Management LLC bought a new position in shares of Coupang during the 4th quarter worth approximately $31,000. Finally, Van ECK Associates Corp lifted its position in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. 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 research report on Wednesday, January 8th. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

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.