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

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

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent research reports. 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. 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. Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Mizuho lifted their price objective on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.17.

Coupang Stock Performance

Shares of CPNG stock traded down $0.66 during midday trading on Tuesday, hitting $22.87. 6,120,634 shares of the company were exchanged, compared to its average volume of 8,324,649. The firm has a market capitalization of $41.28 billion, a P/E ratio of 40.11, a PEG ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm’s 50 day moving average price is $23.31 and its two-hundred day moving average price is $23.91. Coupang has a 52 week low of $17.34 and a 52 week high of $26.91.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on 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. Company insiders own 13.60% of the company’s stock.

Institutional Trading of Coupang

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its stake in Coupang by 4.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC raised its stake in Coupang by 0.8% in the 4th 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 in the last quarter. Virtus ETF Advisers LLC raised its stake in Coupang by 1.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock worth $975,000 after purchasing an additional 466 shares in the last quarter. IFP Advisors Inc raised its stake in Coupang by 3.8% in the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Finally, Ignite Planners LLC raised its stake in Coupang by 2.5% in the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

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.