Blue Apron Stock Bounces on Infrastructure Plans

The stock hit a record low earlier this month

Laura McCandless

Deputy Editor

May 16, 2023 at 10:54 AM

APRN

The shares of Blue Apron Holdings Inc (NYSE:APRN) are on the rise, after news the meal-kit delivery name plans to transfer its operational infrastructure to FreshRealm. The company signed a non-binding letter of intent for up to $50 million, and intends to sign definitive agreements in June.

At last glance, APRN was up 7.3% at 50 cents. The shares just hit a May 9 record low of 42 cents, having spent all of 2023 so far firmly in penny stock territory. Year-to-date, the equity is down roughly 35%.

It's worth noting that short interest makes up 13.6% of the stock's available float. It would take three days for shorts to cover their bets, at APRN's average pace of trading.

Of the three analysts in coverage, one carries a "strong buy" rating, with two say "hold" or worse. The 12-month consensus price target of $3.17 is a massive 454.2% premium to current levels.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.