INNOVIS ASSET MANAGEMENT LLC recently announced the acquisition of new stake in Blue Apron Holdings Inc. (NYSE:APRN). This fresh investment now brings its stake to 1.82% valued currently at $0.66 million. In addition, The Vanguard Group, Inc. raised its holdings by 46221.0 to 0.6 million shares. And BlackRock Fund Advisors has lifted its position by 65.35% or 0.21 million shares – to 0.53 million shares.
With over 1.98 million Blue Apron Holdings Inc. (APRN) shares trading Tuesday and a closing price of $0.77 on the day, the dollar volume was approximately $1.52 million. The shares have shown a negative half year performance of -88.59% and its price on 03/14/23 gained nearly 10.71%. Currently, there are 34.85M common shares owned by the public and among those 12.93M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for APRN have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $2.00. The average price target is 80.75% above its recent price level and an upside to the estimated low will see the stock gain 61.5% over that period. But an upside of 84.6% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 98 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 80 of these insider trades were purchases, accounting for 255,018 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 64,883 shares.
The top 3 mutual fund holders in Blue Apron Holdings Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and ES River & Mercantile Funds ICVC. Vanguard Total Stock Market Index owns 0.34 million shares of the company’s stock, all valued at over $0.31 million. ES River & Mercantile Funds ICVC now owns shares totaling to 0.38% of the shares outstanding.
Shares of Blue Apron Holdings Inc. (NYSE: APRN) opened at $0.75, up $0.05 from a prior closing price of $0.70. However, the script later moved the day high at 0.7999, up 10.71%. The company’s stock has a 5-day price change of -9.34% and 10.71% over the past three months. APRN shares are trading -6.63% year to date (YTD), with the 12-month market performance down to -83.82% lower. It has a 12-month low price of $0.61 and touched a high of $8.22 over the same period. APRN has an average intraday trading volume of 8.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.98%, -18.84%, and -70.07% respectively.
Institutional ownership of Blue Apron Holdings Inc. (NYSE: APRN) shares accounts for 13.80% of the company’s 34.85M shares outstanding. Mutual fund holders own 3.66%, while other institutional holders and individual stakeholders account for 61.12% and 13.39% respectively.
It has a market capitalization of $31.22M and a beta (3y monthly) value of -2.88. The earnings-per-share (ttm) stands at -$3.79. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.07% over the week and 10.03% over the month.
Analysts forecast that Blue Apron Holdings Inc. (APRN) will achieve an EPS of -$0.77 for the current quarter, -$0.59 for the next quarter and -$1.56 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.91 while analysts give the company a high EPS estimate of -$0.63. Comparatively, EPS for the current quarter was -$0.93 a year ago. Earnings per share for the fiscal year are expected to decrease by -29.70%, and 54.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Blue Apron Holdings Inc. (APRN) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the APRN, a number of firms have released research notes about the stock. Lake Street stated their Buy rating for the stock in a research note on August 10, 2022, with the firm’s price target at $9. The Benchmark Company coverage for the Blue Apron Holdings Inc. (APRN) stock in a research note released on July 21, 2022 offered a Buy rating with a price target of $10. Canaccord Genuity on their part issued Hold rating on November 15, 2018.
