Citigroup slashes price target on Boxed Inc. [BOXD] – find out why.


Boxed Inc. [NYSE: BOXD] plunged by -$1.94 during the normal trading session on Tuesday and reaching a high of $4.99 during the day while it closed the day at $3.57. The company report on June 7, 2022 that Boxed, Inc. Announces Addition to the Russell 2000® Index.

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Boxed, Inc. (NYSE: BOXD, BOXD WS) (“Boxed” or the “Company”), an e-commerce grocery platform that sells bulk consumables and licenses its e-commerce software to enterprise retailers, today announced that the Company’s stock will be added to the Russell 2000® Index, effective as of market open on June 27, 2022, according to a preliminary list of additions posted by FTSE Russell on June 3, 2022.

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market. Membership in the Russell 2000® Index, which remains in place until the next reconstitution, is based on membership in the broad market Russell 3000® Index. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

Boxed Inc. stock has also loss -51.10% of its value over the past 7 days. However, BOXD stock has declined by -64.30% in the 3 months of the year. Over the past six months meanwhile, it has lost -59.15% and lost -73.94% year-on date.

The market cap for BOXD stock reached $256.18 million, with 66.86 million shares outstanding and 51.58 million shares in the current float. Compared to the average trading volume of 364.96K shares, BOXD reached a trading volume of 4927496 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Boxed Inc. [BOXD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BOXD shares is $11.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BOXD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Boxed Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 20, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Neutral. The new note on the price target was released on January 04, 2022, representing the official price target for Boxed Inc. stock.

The Average True Range (ATR) for Boxed Inc. is set at 0.99, with the Price to Sales ratio for BOXD stock in the period of the last 12 months amounting to 1.45.

BOXD stock trade performance evaluation

Boxed Inc. [BOXD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -51.10. With this latest performance, BOXD shares dropped by -65.17% in over the last four-week period, additionally sinking by -59.15% over the last 6 months – not to mention a drop of -63.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BOXD stock in for the last two-week period is set at 19.58, with the RSI for the last a single of trading hit 12.63, and the three-weeks RSI is set at 25.15 for Boxed Inc. [BOXD]. The present Moving Average for the last 50 days of trading for this stock 9.75, while it was recorded at 6.14 for the last single week of trading, and 10.07 for the last 200 days.

Boxed Inc. [BOXD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Boxed Inc. [BOXD] shares currently have an operating margin of -24.89 and a Gross Margin at +15.45. Boxed Inc.’s Net Margin is presently recorded at -37.90.

Return on Equity for this stock declined to -56.68, with Return on Assets sitting at -27.26.

Boxed Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.40.

Boxed Inc. [BOXD]: Insider Ownership positions

There are presently around $146 million, or 39.30% of BOXD stock, in the hands of institutional investors. The top three institutional holders of BOXD stocks are: ATALAYA CAPITAL MANAGEMENT LP with ownership of 5,770,066, which is approximately -1.702% of the company’s market cap and around 7.80% of the total institutional ownership; HAMILTON LANE ADVISORS LLC, holding 4,020,556 shares of the stock with an approximate value of $22.15 million in BOXD stocks shares; and GGV CAPITAL LLC, currently with $15.92 million in BOXD stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Boxed Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 27 institutional holders increased their position in Boxed Inc. [NYSE:BOXD] by around 3,651,958 shares. Additionally, 18 investors decreased positions by around 2,530,395 shares, while 13 investors held positions by with 20,334,528 shares. The mentioned changes placed institutional holdings at 26,516,881 shares, according to the latest SEC report filing. BOXD stock had 23 new institutional investments in for a total of 3,628,249 shares, while 11 institutional investors sold positions of 1,553,210 shares during the same period.