Blue Apron Holdings Inc (NASDAQ:APRN) shares were down 5% during mid-day trading on Tuesday . The company traded as low as $5.65 and last traded at $5.39. Approximately 2,366,657 shares were traded during trading, a decline of 47% from the average daily volume of 4,483,610 shares. The stock had previously closed at $5.67.

A number of research analysts have issued reports on APRN shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Blue Apron Holdings in a research report on Monday, July 24th. They set a “buy” rating and a $11.00 target price on the stock. Zacks Investment Research lowered shares of Blue Apron Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Citigroup Inc. started coverage on shares of Blue Apron Holdings in a research report on Tuesday, July 25th. They set a “buy” rating and a $10.00 target price on the stock. Northcoast Research started coverage on shares of Blue Apron Holdings in a research report on Tuesday, July 11th. They set a “sell” rating and a $2.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $8.00 target price (down previously from $10.00) on shares of Blue Apron Holdings in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $7.67.

The stock has a 50 day moving average of $5.56 and a 200-day moving average of $6.32. The stock’s market cap is $164.64 million.

Blue Apron Holdings (NASDAQ:APRN) last posted its earnings results on Thursday, August 10th. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.21). The company had revenue of $238.10 million for the quarter, compared to analyst estimates of $235.78 million. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts forecast that Blue Apron Holdings Inc will post ($1.60) earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $220,000. JPMorgan Chase & Co. bought a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $31,439,000. Victory Capital Management Inc. bought a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $14,010,000. Oak Ridge Investments LLC bought a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $934,000. Finally, LMR Partners LLP bought a new stake in Blue Apron Holdings during the 2nd quarter worth approximately $2,195,000.

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About Blue Apron Holdings

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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