Coupang (NYSE:CPNG) Hits New 1-Year Low – Here’s What Happened

Coupang, Inc. (NYSE:CPNG)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $16.48 and last traded at $16.4080, with a volume of 2338992 shares changing hands. The stock had previously closed at $16.98.

Analysts Set New Price Targets

CPNG has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Wall Street Zen cut shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Finally, Mizuho dropped their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Coupang presently has a consensus rating of “Hold” and a consensus target price of $26.92.

Coupang Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $22.62. The firm has a market capitalization of $29.75 billion, a PE ratio of -180.81 and a beta of 1.20.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, equities analysts expect that Coupang, Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Neil Mehta bought 2,332,863 shares of the stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the purchase, the director owned 55,310,977 shares of the company’s stock, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coupang

Hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new position in shares of Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management acquired a new position in shares of Coupang in the 4th quarter valued at $28,000. Orion Capital Management LLC acquired a new position in shares of Coupang in the 3rd quarter valued at $32,000. Webster Bank N. A. boosted its holdings in shares of Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.