Blue Apron Holdings has filed Form 8-K with the SEC to raise $45.0 million as part of a $78.0 million capital requirement.  Proceeds will be used for working capital, for general corporate purposes and to implement an enhanced growth strategy.  For the most recent quarter, total debt amounted to $66.5 million and the company posted a debt to equity ratio of 117.8.  The company now has intentions of developing an ESG program and is obligated to increase wages and benefits.

Blue Apron Holdings has a market capitalization of $219.6 million and has traded over the past 52-weeks in a range of $3.52 to $12.35 with a 50-day moving average of $5.58.   On a 12-month trailing basis, operating margin was -10.1 percent and profit margin -12.8 percent.  The company generated a 12-month trailing return on assets of -14.3 percent and -111.3 percent on equity.

As of September 30th, 9.2 percent of the float was short.  At the present time 19 percent of equity is held by insiders and 31 percent by institutions. Given performance since the IPO, Blue Apron is a money pit. If it could not break even during COVID restrictions it will certainly not show a positive return going forward with a re-opening of the economy, fatigue in home cooking and concern over personal finances.