Short Interest in Coupang, Inc. (NYSE:CPNG) Increases By 29.2%

Coupang, Inc. (NYSE:CPNG) was the target of a large increase in short interest in the month of 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. Currently, 1.4% of the company’s shares are short sold. Based on an average trading volume of 7,760,000 shares, the short-interest ratio is presently 2.2 days.

Coupang Stock Up 5.1 %

Shares of Coupang stock traded up $1.15 on Monday, reaching $23.66. 7,457,595 shares of the company were exchanged, compared to its average volume of 8,390,004. Coupang has a 1-year low of $17.34 and a 1-year high of $26.91. The company has a market cap of $42.71 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The stock’s 50 day moving average price is $23.28 and its 200-day moving average price is $23.90.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Coupang

A number of institutional investors and hedge funds have recently made changes to their positions in CPNG. Brooklyn Investment Group acquired a new position in Coupang in the third quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new position in Coupang in the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC acquired a new position in Coupang in the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. boosted its holdings in Coupang by 520.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after purchasing an additional 1,986 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CPNG shares. Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Mizuho boosted their price objective on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Citigroup cut their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note 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 on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.17.

About Coupang

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.