Blue Apron Holdings Inc (APRN)

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Blue Apron Holdings, Inc. (NYSE:$APRN) Sees Large Drop in Short Interest
Posted by Shane Hupp on Jan 31st, 2023



https://www.tickerreport.com/banking-finance/10072052/blue-apron-holdings-inc-nyseaprn-sees-large-drop-in-short-interest.html

Blue Apron logoBlue Apron Holdings, Inc. (NYSE:APRN – Get Rating) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 5,620,000 shares, a decrease of 14.1% from the December 31st total of 6,540,000 shares. Based on an average daily volume of 6,750,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 43.8% of the shares of the company are short sold.

Insider Buying and Selling at Blue Apron
In other Blue Apron news, major shareholder Joseph N. Sanberg sold 96,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $1.07, for a total transaction of $103,757.90. Following the transaction, the insider now owns 6,622,956 shares in the company, valued at approximately $7,086,562.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 114,500 shares of company stock worth $121,639. 1.20% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On Blue Apron
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APRN. Price T Rowe Associates Inc. MD purchased a new position in Blue Apron during the second quarter valued at $52,000. Walleye Capital LLC purchased a new position in Blue Apron during the first quarter valued at $67,000. Engineers Gate Manager LP purchased a new position in Blue Apron during the third quarter valued at $104,000. Raymond James Trust N.A. acquired a new stake in shares of Blue Apron in the first quarter valued at about $105,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of Blue Apron in the second quarter valued at about $106,000.

Blue Apron Stock Performance
Shares of NYSE APRN opened at $1.01 on Tuesday. The company’s fifty day moving average price is $0.88 and its 200 day moving average price is $2.72. Blue Apron has a 1 year low of $0.61 and a 1 year high of $8.58. The company has a market capitalization of $39.98 million, a PE ratio of -0.29 and a beta of -2.95. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.60 and a current ratio of 0.98.
Blue Apron (NYSE:APRN – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.19). Blue Apron had a negative return on equity of 213.15% and a negative net margin of 24.80%. The firm had revenue of $109.67 million for the quarter, compared to analysts’ expectations of $110.40 million. On average, research analysts predict that Blue Apron will post -3.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth
Several analysts have recently commented on APRN shares. Lake Street Capital downgraded shares of Blue Apron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.00 to $2.00 in a report on Friday, December 9th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $7.00 price objective (down from $10.00) on shares of Blue Apron in a report on Monday, November 7th. Benchmark dropped their price objective on shares of Blue Apron to $5.00 in a report on Tuesday, November 15th. Finally, Canaccord Genuity Group downgraded shares of Blue Apron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $10.00 to $7.00 in a report on Monday, November 7th.

Blue Apron Company Profile
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Blue Apron Holdings, Inc operates as an ingredient-and-recipe meal kit service company. engages in making home cooking accessible. The firm is involved in demand planning, recipe creation, recipe merchandising, and marketing. Its products include meals and wine. The company was founded by Matthew J. Wadiak, Ilia M.