Blue Apron (APRN) Sets New 52-Week Low at $1.87

Blue Apron Holdings Inc (NYSE:APRN) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $1.87 and last traded at $1.86, with a volume of 2742534 shares trading hands. The stock had previously closed at $2.04.

A number of research analysts recently issued reports on APRN shares. Zacks Investment Research upgraded Blue Apron from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Wednesday, March 21st. Gabelli started coverage on Blue Apron in a research note on Friday, February 2nd. They set a “buy” rating and a $6.00 price objective for the company. Barclays upgraded Blue Apron from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $3.00 to $4.00 in a research note on Monday, December 4th. Morgan Stanley cut their price objective on Blue Apron from $4.70 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $4.00 price objective on shares of Blue Apron in a research note on Wednesday, February 14th. Fifteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $6.40.

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The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.66.

Blue Apron (NYSE:APRN) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.07. Blue Apron had a negative return on equity of 787.55% and a negative net margin of 23.85%. The company had revenue of $187.70 million for the quarter, compared to analysts’ expectations of $186.13 million. During the same period in the previous year, the firm earned ($0.39) EPS. The firm’s revenue was down 13.1% compared to the same quarter last year. equities analysts predict that Blue Apron Holdings Inc will post -0.72 EPS for the current fiscal year.

In other news, CTO Ilia M. Papas sold 133,333 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $2.60, for a total transaction of $346,665.80. Following the sale, the chief technology officer now directly owns 140,833 shares of the company’s stock, valued at approximately $366,165.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Benjamin C. Singer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $3.50, for a total value of $35,000.00. Following the sale, the general counsel now directly owns 10,000 shares in the company, valued at $35,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,666 shares of company stock worth $853,665.

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada purchased a new stake in shares of Blue Apron during the 2nd quarter worth approximately $141,000. Wells Fargo & Company MN raised its holdings in shares of Blue Apron by 27.4% during the 3rd quarter. Wells Fargo & Company MN now owns 85,530 shares of the company’s stock worth $467,000 after acquiring an additional 18,370 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Blue Apron during the 3rd quarter worth approximately $120,000. BBR Partners LLC purchased a new stake in shares of Blue Apron during the 3rd quarter worth approximately $147,000. Finally, Geode Capital Management LLC raised its holdings in shares of Blue Apron by 39.8% during the 4th quarter. Geode Capital Management LLC now owns 156,799 shares of the company’s stock worth $631,000 after acquiring an additional 44,602 shares in the last quarter. 11.48% of the stock is currently owned by institutional investors and hedge funds.

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About Blue Apron

Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.

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