Posted by admin on Aug 12th, 2022

Lake Street Capital initiated coverage on shares of Blue Apron (NYSE:APRN – Get Rating) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $9.00 price target on the stock. Lake Street Capital’s price objective indicates a potential upside of 144.57% from the company’s previous close.

Several other research analysts have also commented on APRN. Benchmark started coverage on Blue Apron in a report on Wednesday, July 20th. They set a “buy” rating and a $10.00 price objective for the company. Canaccord Genuity Group cut their price objective on Blue Apron from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 10th.

Shares of APRN opened at $3.68 on Wednesday. The business’s 50-day moving average price is $3.30 and its 200-day moving average price is $4.22. Blue Apron has a twelve month low of $2.27 and a twelve month high of $12.76. The stock has a market cap of $126.48 million, a PE ratio of -0.93 and a beta of -2.80. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.20.

Blue Apron (NYSE:APRN – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.14. Blue Apron had a negative return on equity of 211.07% and a negative net margin of 25.21%. During the same quarter last year, the business earned ($0.76) earnings per share. On average, equities analysts forecast that Blue Apron will post -2.69 EPS for the current fiscal year.

In other Blue Apron news, CEO Linda Findley sold 9,684 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $3.08, for a total value of $29,826.72. Following the completion of the sale, the chief executive officer now owns 194,620 shares of the company’s stock, valued at $599,429.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 18,803 shares of company stock valued at $57,913 over the last quarter. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in APRN. Wolf Hill Capital Management LP purchased a new stake in shares of Blue Apron during the fourth quarter valued at approximately $10,869,000. Renaissance Technologies LLC boosted its stake in shares of Blue Apron by 227.7% during the fourth quarter. Renaissance Technologies LLC now owns 785,280 shares of the company’s stock valued at $5,285,000 after purchasing an additional 545,680 shares during the period. Wexford Capital LP purchased a new stake in shares of Blue Apron during the fourth quarter valued at approximately $2,976,000. Vanguard Group Inc. boosted its stake in shares of Blue Apron by 34.4% during the first quarter. Vanguard Group Inc. now owns 868,606 shares of the company’s stock valued at $3,518,000 after purchasing an additional 222,114 shares during the period. Finally, Baillie Gifford & Co. purchased a new stake in shares of Blue Apron during the second quarter valued at approximately $541,000.

Blue Apron Holdings, Inc operates a direct-to-consumer platform that delivers original recipes with fresh and seasonal ingredients. It also operates Blue Apron Market, an e-commerce market that provides cooking tools, utensils, pantry items, and other products. 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.

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