JOANN Sees Unusually Large Options Volume (NASDAQ:JOAN)

JOANN Inc. (NASDAQ:JOAN) was the recipient of unusually large options trading on Wednesday. Investors bought 8,243 call options on the company. This represents an increase of 1,658% compared to the typical volume of 469 call options.

Hedge Funds Weigh In On JOANN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOAN. UBS Group AG boosted its holdings in JOANN by 141.5% during the second quarter. UBS Group AG now owns 3,383 shares of the company’s stock worth $26,000 after buying an additional 1,982 shares during the last quarter. Geneos Wealth Management Inc. raised its position in JOANN by 86.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,800 shares of the company’s stock valued at $31,000 after buying an additional 1,300 shares during the last quarter. BNP Paribas Arbitrage SNC acquired a new stake in JOANN in the 3rd quarter valued at approximately $33,000. JPMorgan Chase & Co. raised its position in JOANN by 153.4% in the 4th quarter. JPMorgan Chase & Co. now owns 14,962 shares of the company’s stock valued at $43,000 after buying an additional 9,058 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in JOANN in the 4th quarter valued at approximately $64,000. Institutional investors own 72.10% of the company’s stock.

JOANN Stock Up 9.8 %

Shares of JOAN stock opened at $0.08 on Thursday. The stock has a 50-day moving average price of $0.28 and a 200 day moving average price of $0.46. The firm has a market cap of $3.50 million, a price-to-earnings ratio of -0.01 and a beta of 0.99. JOANN has a 12 month low of $0.08 and a 12 month high of $2.19.

About JOANN

JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. The company products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; pillow forms; stuffing, batting, and foams; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.