Short Interest in Mission Produce, Inc. (NASDAQ:AVO) Grows By 14.4%

Mission Produce, Inc. (NASDAQ:AVO) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,140,000 shares, an increase of 14.4% from the August 31st total of 996,500 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average trading volume of 270,700 shares, the days-to-cover ratio is presently 4.2 days.

Insider Buying and Selling

In other Mission Produce news, Director Taylor Family Investments, Llc sold 100,100 shares of Mission Produce stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $13.25, for a total value of $1,326,325.00. Following the completion of the transaction, the director now directly owns 8,630,002 shares of the company’s stock, valued at $114,347,526.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mission Produce news, Director Taylor Family Investments, Llc sold 100,100 shares of Mission Produce stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $13.25, for a total value of $1,326,325.00. Following the completion of the transaction, the director now directly owns 8,630,002 shares of the company’s stock, valued at approximately $114,347,526.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luis A. Gonzalez sold 49,331 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.03, for a total value of $642,782.93. Following the transaction, the director now owns 7,398,902 shares of the company’s stock, valued at approximately $96,407,693.06. The disclosure for this sale can be found here. Insiders have sold a total of 296,059 shares of company stock worth $3,920,360 in the last ninety days. 41.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its stake in shares of Mission Produce by 245.2% in the 1st quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after buying an additional 3,112 shares during the period. Point72 DIFC Ltd acquired a new position in Mission Produce during the 2nd quarter worth approximately $53,000. Point72 Asset Management L.P. purchased a new stake in shares of Mission Produce in the 2nd quarter valued at approximately $53,000. nVerses Capital LLC acquired a new stake in shares of Mission Produce in the 2nd quarter valued at $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Mission Produce during the second quarter worth $73,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Mission Produce Price Performance

AVO stock traded down $0.01 during midday trading on Friday, reaching $12.95. The stock had a trading volume of 188,726 shares, compared to its average volume of 224,034. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $11.31 and its 200 day simple moving average is $11.29. Mission Produce has a 52-week low of $8.19 and a 52-week high of $13.62. The company has a market cap of $918.28 million, a price-to-earnings ratio of 51.80 and a beta of 0.47.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AVO shares. Lake Street Capital reissued a “buy” rating and set a $15.00 price objective on shares of Mission Produce in a report on Tuesday, September 10th. Roth Mkm lifted their target price on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.