Coupang, Inc. (NYSE:CPNG) Short Interest Update

Coupang, Inc. (NYSE:CPNG) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 70,985,186 shares, an increase of 79.3% from the May 14th total of 39,582,338 shares. Currently, 4.5% of the company’s shares are sold short. Based on an average daily volume of 22,789,931 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Investors Weigh In On Coupang

A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in shares of Coupang by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after purchasing an additional 361 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of Coupang by 2.2% during the 3rd quarter. Level Four Advisory Services LLC now owns 20,916 shares of the company’s stock valued at $673,000 after purchasing an additional 441 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Coupang by 19.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after purchasing an additional 597 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Coupang by 6.6% during the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock valued at $316,000 after purchasing an additional 609 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Coupang by 9.5% during the 4th quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock valued at $169,000 after purchasing an additional 620 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of Coupang stock opened at $18.00 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Coupang has a 12-month low of $14.92 and a 12-month high of $34.08. The firm has a market cap of $32.32 billion, a PE ratio of -200.01 and a beta of 1.12. The company’s fifty day simple moving average is $17.96 and its two-hundred day simple moving average is $19.97.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. As a group, equities analysts expect that Coupang will post -0.17 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CPNG. Morgan Stanley decreased their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Mizuho decreased their target price on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Finally, UBS Group set a $25.00 target price on shares of Coupang in a research report on Thursday, February 19th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Coupang currently has an average rating of “Hold” and an average price target of $26.65.

Coupang Company Profile

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.