JOANN Sees Unusually Large Options Volume (NASDAQ:JOAN)

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

Institutional Investors Weigh In On JOANN

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in shares of JOANN by 23,467.5% during the second quarter. JPMorgan Chase & Co. now owns 1,998,762 shares of the company’s stock worth $1,747,000 after purchasing an additional 1,990,281 shares during the period. UBS Group AG boosted its holdings in JOANN by 6,878.2% in the 3rd quarter. UBS Group AG now owns 236,071 shares of the company’s stock worth $1,563,000 after buying an additional 232,688 shares during the period. Y Intercept Hong Kong Ltd bought a new position in JOANN in the 2nd quarter valued at $103,000. Invesco Ltd. bought a new position in JOANN in the 1st quarter valued at $640,000. Finally, GSA Capital Partners LLP raised its position in shares of JOANN by 15.7% during the 3rd quarter. GSA Capital Partners LLP now owns 358,068 shares of the company’s stock valued at $258,000 after buying an additional 48,682 shares in the last quarter. 72.10% of the stock is currently owned by institutional investors and hedge funds.

JOANN Price Performance

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

JOANN Company Profile

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.