Blue Apron (NYSE:APRN) Trading Down 10.2%

Blue Apron Holdings Inc (NYSE:APRN)’s stock price was down 10.2% during trading on Wednesday . The stock traded as low as $9.01 and last traded at $9.26, approximately 841,790 shares were traded during trading. An increase of 54% from the average daily volume of 547,835 shares. The stock had previously closed at $10.31.

A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Blue Apron from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Citigroup decreased their price objective on shares of Blue Apron from $18.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.51.

The company has a debt-to-equity ratio of 0.74, a current ratio of 2.33 and a quick ratio of 1.76. The stock’s 50 day simple moving average is $7.78 and its two-hundred day simple moving average is $4.16. The stock has a market cap of $126.45 million, a P/E ratio of -1.00 and a beta of 1.03.

Blue Apron (NYSE:APRN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.59) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.08) by $0.49. Blue Apron had a negative net margin of 12.79% and a negative return on equity of 57.90%. The firm had revenue of $119.20 million for the quarter, compared to analyst estimates of $138.13 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was down 33.6% on a year-over-year basis. As a group, analysts forecast that Blue Apron Holdings Inc will post -4.59 earnings per share for the current fiscal year.

In other Blue Apron news, insider Linda F. Kozlowski sold 4,674 shares of Blue Apron stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $7.14, for a total value of $33,372.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 8,409 shares of company stock worth $60,040. Insiders own 40.83% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Regal Investment Advisors LLC acquired a new position in shares of Blue Apron in the first quarter valued at about $36,000. Jane Street Group LLC bought a new stake in Blue Apron during the second quarter worth about $75,000. Deutsche Bank AG lifted its position in Blue Apron by 126.3% during the fourth quarter. Deutsche Bank AG now owns 99,644 shares of the company’s stock worth $101,000 after purchasing an additional 55,617 shares during the period. Spark Investment Management LLC lifted its holdings in shares of Blue Apron by 95.3% in the first quarter. Spark Investment Management LLC now owns 337,600 shares of the company’s stock worth $330,000 after acquiring an additional 164,700 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in shares of Blue Apron in the first quarter worth about $349,000. 12.51% of the stock is currently owned by hedge funds and other institutional investors.

About Blue Apron (NYSE:APRN)

Blue Apron Holdings, Inc operates direct-to-consumer platform that delivers original recipes, and fresh and seasonal ingredients. It also operates Blue Apron Market, an e-commerce marketplace that provides cooking tools, utensils, and pantry items. In addition, the company offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals; and supplies poultry, beef, and lamb.

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