Coupang Inc. (CPNG) gets rating Downgrade from Deutsche Bank


Coupang Inc.’s recent filing unveils 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 $ 4.98 million.

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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 $5.07 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 4.25 to its Friday closing price.

Price Performance Review of CPNG

On Friday, Coupang Inc. [NYSE:CPNG] saw its stock jump 0.90% to $19.15. On the same session, the stock had its day’s lowest price of $18.685, but rose to a high of $19.195. Over the last five days, the stock has gained 3.57%. Coupang Inc. shares have risen nearly 30.18% since the year began. Nevertheless, the stocks have risen 13.31% 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 $17.88, while 200 days put it at $16.65. A total of 7.02 million shares were traded, compared to the trading of 5.68 million shares in the previous session.

Levels Of Support And Resistance For CPNG Stock

The 24-hour chart illustrates a support level at 18.82, which if violated will result in even more drops to 18.50. On the upside, there is a resistance level at 19.33. A further resistance level may holdings at 19.52. The Relative Strength Index (RSI) on the 14-day chart is 61.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 3.04%. Stochastics %K at 75.61% 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 23.81 percent from its previous closing price of $18.98. 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.


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