Coupang Inc’s recently made public that its insider Rogers Harold unloaded Company’s shares for reported $2.54 million on Mar 18 ’24. In the deal valued at $18.25 per share,139,080 shares were sold. As a result of this transaction, Rogers Harold now holds 394,192 shares worth roughly $7.19 million.
Then, MEHTA NEIL sold 1,600,000 shares, generating $29,894,831 in total proceeds. Upon selling the shares at $18.68, the Director now owns 48,006,135 shares.
Before that, SVF Investments (UK) Ltd sold 15,000,000 shares. Coupang Inc shares valued at $294,000,000 were divested by the 10% Owner at a price of $19.60 per share. As a result of the transaction, SVF Investments (UK) Ltd now holds 349,542,259 shares, worth roughly $6.38 billion.
Deutsche Bank upgraded its Coupang Inc [CPNG] rating to a Buy from a a Hold in a research note published on February 29, 2024; the price target was increased to $21 from $18.50. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid January from “a Buy” to “a Neutral”. UBS also remained covering CPNG and has decreased its forecast on December 20, 2023 with a “Neutral” recommendation from previously “Buy” rating. Deutsche Bank revised its rating on August 09, 2023. It rated CPNG as “a Hold” which previously was an “a Buy”.
Price Performance Review of CPNG
On Friday, Coupang Inc [NYSE:CPNG] saw its stock fall -0.44% to $18.24. Over the last five days, the stock has gained 2.53%. Coupang Inc shares have risen nearly 12.66% since the year began. Nevertheless, the stocks have risen 11.83% over the past one year. While a 52-week high of $19.99 was reached on 03/12/24, a 52-week low of $13.51 was recorded on 02/02/24. SMA at 50 days reached $16.82, while 200 days put it at $16.99. A total of 6.22 million shares were traded, compared to the trading of 10.6 million shares in the previous session.
Levels Of Support And Resistance For CPNG Stock
The 24-hour chart illustrates a support level at 18.15, which if violated will result in even more drops to 18.05. On the upside, there is a resistance level at 18.37. A further resistance level may holdings at 18.49. The Relative Strength Index (RSI) on the 14-day chart is 56.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 41.94%. Stochastics %K at 53.97% 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 Mar 15, 2024, growing by 9.99 million shares to a total of 30.13 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 20.14 million shares. There was a rise of 33.16%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.72% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.6.
