Westrock Coffee (NASDAQ:WEST) Trading Down 4.9%

Westrock Coffee (NASDAQ:WEST) shares traded down 4.9% on Wednesday . The company traded as low as $6.53 and last traded at $6.55. 141,050 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 207,863 shares. The stock had previously closed at $6.89.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $14.00 price objective on shares of Westrock Coffee in a report on Friday, June 28th. Craig Hallum started coverage on shares of Westrock Coffee in a research note on Monday. They issued a “buy” rating and a $13.00 price objective for the company.

Westrock Coffee Price Performance

The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 4.05. The business has a 50 day simple moving average of $8.69 and a 200-day simple moving average of $9.65. The company has a market capitalization of $588.54 million, a P/E ratio of -9.85 and a beta of 0.41.

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

Insider Activity

In other Westrock Coffee news, major shareholder Hf Direct Investments Pool, Ll sold 33,592 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $10.03, for a total value of $336,927.76. Following the completion of the transaction, the insider now directly owns 12,974,408 shares in the company, valued at $130,133,312.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Westrock Coffee news, major shareholder Hf Direct Investments Pool, Ll sold 33,592 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $10.03, for a total transaction of $336,927.76. Following the sale, the insider now directly owns 12,974,408 shares of the company’s stock, valued at approximately $130,133,312.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas Christopher Pledger sold 6,600 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,666,730. The disclosure for this sale can be found here. Over the last three months, insiders purchased 11,092 shares of company stock valued at $81,546 and sold 184,451 shares valued at $1,856,419. 42.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Westrock Coffee

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

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.