Stock traders buy high volume call options on Blue Apron (NYSE:APRN)
Blue Apron Holdings, Inc. (NYSE:APRN – Get Rating) saw unusually large options trades on Tuesday. Equity investors bought 17,598 call options on the stock. This represents a 141% increase from the average daily volume of 7,311 call options.
Analysts set new price targets
The APRN has been the subject of several analyst reports. Lake Street Capital began covering shares of Blue Apron in a research note on Wednesday, August 10. They set a “buy” rating and a target price of $9.00 for the business. Canaccord Genuity Group lowered its price target on Blue Apron shares from $12.00 to $10.00 and set a “buy” rating for the company in a Tuesday, May 10 research note. Finally, Benchmark took over coverage of Blue Apron shares in a Wednesday, July 20 report. They issued a “buy” rating and a price target of $10.00 on the stock.
Blue apron up 2.5%
APRN stock traded down $0.15 on Tuesday, hitting $6.04. The company’s stock had a trading volume of 555,522 shares, compared to an average trading volume of 7,991,383 shares. The company has a fifty-day simple moving average of $3.96 and a two-hundred-day simple moving average of $4.00. Blue Apron has a 12-month low of $2.27 and a 12-month high of $12.76. The company has a market capitalization of $210.19 million, a PE ratio of -1.52 and a beta of -2.80. The company has a debt ratio of 1.20, a quick ratio of 0.89 and a current ratio of 1.21.
Blue Apron (NYSE:APRN – Get Rating) last reported quarterly earnings data on Monday, August 8. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.14. Blue Apron had a negative return on equity of 211.07% and a negative net margin of 25.21%. In the same quarter last year, the company made ($0.76) earnings per share. As a group, research analysts expect Blue Apron to post -2.58 EPS for the current year.
Insider Trading at Blue Apron
In related news, CEO Linda Findley sold 9,915 shares of Blue Apron in a trade dated Friday, August 26. The shares were sold at an average price of $5.97, for a total transaction of $59,192.55. Following the completion of the sale, the CEO now owns 208,576 shares of the company, valued at approximately $1,245,198.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In the past three months, insiders have sold 22,761 shares of the company worth $135,883. 1.20% of the shares are held by insiders of the company.
Institutional entries and exits
Several institutional investors and hedge funds have recently bought and sold shares of APRN. Kore Private Wealth LLC bought a new position in Blue Apron in the second quarter worth approximately $7,272,000. Wolf Hill Capital Management LP purchased a new position in shares of Blue Apron during Q4, valued at approximately $10,869,000. Renaissance Technologies LLC increased its position in shares of Blue Apron by 227.7% during the 4th quarter. Renaissance Technologies LLC now owns 785,280 shares of the company valued at $5,285,000 after purchasing an additional 545,680 shares last quarter. Wexford Capital LP bought a new position in shares of Blue Apron during the 4th quarter, valued at approximately $2,976,000. Finally, Vanguard Group Inc. increased its position in Blue Apron shares by 34.4% during the first quarter. Vanguard Group Inc. now owns 868,606 shares of the company valued at $3,518,000 after purchasing an additional 222,114 shares last quarter.
Company Profile Blue Apron
(Get a rating)
Blue Apron Holdings, Inc operates a direct-to-consumer platform that features original recipes with fresh, seasonal ingredients. It also operates Blue Apron Market, an e-commerce marketplace that provides kitchen tools, utensils, pantry items and other products. In addition, the company offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines that can accompany meals.
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