Coupang Inc.’s filing revealed that its insider Kim Tae Jung unloaded Company’s shares for reported $82023.0 on Jul 03. In the deal valued at $17.56 per share,4,671 shares were sold. As a result of this transaction, Kim Tae Jung now holds 260,142 shares worth roughly $ 4.81 million.
Then, Sun Benjamin sold 150,000 shares, generating $2,406,000 in total proceeds. Upon selling the shares at $16.04, the Director now owns 303,312 shares.
Before that, Kim Tae Jung sold 940 shares. Coupang Inc. shares valued at $15,482 were divested by the insider at a price of $16.47 per share. As a result of the transaction, Kim Tae Jung now holds 264,813 shares, worth roughly $4.9 million.
Deutsche Bank downgraded its Coupang Inc. [CPNG] rating to a Hold from a a Buy in a research note published on Friday. PT values the company’s stock at a premium of 7.55 to its Friday closing price.
Price Performance Review of CPNG
On Friday, Coupang Inc. [NYSE:CPNG] saw its stock jump 0.98% to $18.49. On the same session, the stock had its day’s lowest price of $18.185, but rose to a high of $18.61. Over the last five days, the stock has gained 2.89%. Coupang Inc. shares have risen nearly 25.70% since the year began. Nevertheless, the stocks have risen 7.19% over the past one year. While a 52-week high of $21.31 was reached on 08/09/23, a 52-week low of $12.66 was recorded on 03/15/23. SMA at 50 days reached $17.71, while 200 days put it at $16.63. A total of 6.88 million shares were traded, compared to the trading of 3.91 million shares in the previous session.
Levels Of Support And Resistance For CPNG Stock
The 24-hour chart illustrates a support level at 18.25, which if violated will result in even more drops to 18.00. On the upside, there is a resistance level at 18.67. A further resistance level may holdings at 18.85. The Relative Strength Index (RSI) on the 14-day chart is 53.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.98%. Stochastics %K at 39.26% indicates the stock is a holding.
How much short interest is there in Coupang Inc.?
A steep rise in short interest was recorded in Coupang Inc. stocks on Aug 14, 2023, dropping by -3.67 million shares to a total of 27.26 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 30.93 million shares. There was a decline of -13.46%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.48% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.53.
According to FactSet, Coupang Inc.’s share price will average $22.12 in the next year, based on opinions of analysts polled by the firm. This is up nearly 28.35 percent from its previous closing price of $18.31. Analysts expect Coupang Inc. stock to reach the higher price of $28.00, while the lowest price estimate is $11.60. However, 17 analysts have rated CPNG stock as an Overweight in their predictions for 2023.