Stock Alert: Blue Apron Shares Up 4%

(RTTNews) - Shares of Blue Apron Holdings Inc. (APRN) are rising over 4% Friday morning, after the company updated its Q4 outlook. The stock has been trading in the range of $2.01 - $28.84 for the past one year, and is currently trading at $7.37, up 30 cents or 4.24%, with trading volume of 192K versus an average volume of 835K shares.

The company said it now expects Q4 results to be better than the previously communicated outlook. Analysts polled by Thomson Reuters expected a loss of $0.86 per share on revenue of $110.5 million for the quarter. Analysts' estimate typically exclude certain special items.

Earlier, the company estimated fourth-quarter net revenue to grow about 15% - 19% year over year to about $108 million - $112 million. Assuming historical seasonal demand and cost trends, the company expected to incur a net loss of no more than $15.0 million and an adjusted EBITDA loss of no more than $5.0 million.

The company also announced the resignation of Timothy Bensley as its Chief Financial Officer and Treasurer, effective December 31, 2020, to pursue another opportunity.