Westrock Coffee (NASDAQ:WEST) Shares Gap Up to $8.51

Westrock Coffee (NASDAQ:WEST)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.51, but opened at $9.43. Westrock Coffee shares last traded at $9.10, with a volume of 420,673 shares.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $14.00 target price on shares of Westrock Coffee in a report on Friday, June 28th. Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Westrock Coffee in a research note on Monday, May 13th.

Westrock Coffee Stock Performance

The company has a debt-to-equity ratio of 4.05, a current ratio of 1.31 and a quick ratio of 0.67. The stock has a fifty day simple moving average of $9.60 and a two-hundred day simple moving average of $9.98. The firm has a market capitalization of $767.66 million, a P/E ratio of -12.46 and a beta of 0.45.

Westrock Coffee (NASDAQ:WEST) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.16). Westrock Coffee had a negative net margin of 5.37% and a negative return on equity of 18.20%. The company had revenue of $208.39 million during the quarter, compared to the consensus estimate of $214.40 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The business’s revenue was down 7.3% compared to the same quarter last year. On average, research analysts predict that Westrock Coffee will post -0.2 EPS for the current year.

Insider Buying and Selling at Westrock Coffee

In other news, CFO Thomas Christopher Pledger sold 6,600 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $10.00, for a total value of $66,000.00. Following the completion of the sale, the chief financial officer now directly owns 466,673 shares in the company, valued at approximately $4,666,730. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Hf Direct Investments Pool, Ll sold 11,901 shares of Westrock Coffee stock in a transaction on Monday, July 15th. The shares were sold at an average price of $10.03, for a total value of $119,367.03. Following the completion of the sale, the insider now owns 12,943,758 shares of the company’s stock, valued at approximately $129,825,892.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas Christopher Pledger sold 6,600 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $10.00, for a total transaction of $66,000.00. Following the transaction, the chief financial officer now owns 466,673 shares in the company, valued at approximately $4,666,730. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,451 shares of company stock valued at $1,856,419. Corporate insiders own 42.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in Westrock Coffee by 69.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock valued at $35,000 after acquiring an additional 1,444 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Westrock Coffee in the second quarter worth approximately $39,000. Hexagon Capital Partners LLC bought a new position in shares of Westrock Coffee in the first quarter valued at approximately $41,000. Wolverine Asset Management LLC boosted its position in shares of Westrock Coffee by 79.8% during the second quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock valued at $42,000 after buying an additional 1,820 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Westrock Coffee during the first quarter valued at approximately $117,000. 45.08% of the stock is currently owned by institutional investors and hedge funds.

Westrock Coffee Company Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.