Investors Purchase Large Volume of Call Options on JOANN (NASDAQ:JOAN)

JOANN Inc. (NASDAQ:JOAN) saw unusually large options trading activity on Wednesday. Investors bought 8,243 call options on the stock. This is an increase of approximately 1,658% compared to the typical volume of 469 call options.

Institutional Trading of JOANN

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of JOANN by 23,467.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,998,762 shares of the company’s stock worth $1,747,000 after purchasing an additional 1,990,281 shares in the last quarter. UBS Group AG raised its stake in shares of JOANN by 6,878.2% during the 3rd quarter. UBS Group AG now owns 236,071 shares of the company’s stock worth $1,563,000 after purchasing an additional 232,688 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of JOANN during the 2nd quarter worth $103,000. Invesco Ltd. bought a new stake in shares of JOANN during the 1st quarter worth $640,000. Finally, GSA Capital Partners LLP increased its holdings in JOANN by 15.7% in the 3rd quarter. GSA Capital Partners LLP now owns 358,068 shares of the company’s stock worth $258,000 after acquiring an additional 48,682 shares during the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

JOANN Stock Up 23.1 %

Shares of JOAN stock opened at $0.10 on Friday. The company has a market cap of $4.32 million, a price-to-earnings ratio of -0.02 and a beta of 0.99. JOANN has a 52 week low of $0.08 and a 52 week high of $2.19. The firm has a 50 day moving average of $0.27 and a 200-day moving average of $0.45.

JOANN Company Profile

JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. The company products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; pillow forms; stuffing, batting, and foams; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.