Westrock Coffee (NASDAQ:WEST) Trading 5.1% Higher – Here’s Why

Westrock Coffee (NASDAQ:WEST)’s stock price traded up 5.1% during mid-day trading on Wednesday . The stock traded as high as $6.00 and last traded at $5.99. 249,162 shares traded hands during trading, an increase of 12% from the average session volume of 222,525 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WEST shares. Craig Hallum started coverage on Westrock Coffee in a research note on Monday, September 23rd. They set a “buy” rating and a $13.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and set a $14.00 price target on shares of Westrock Coffee in a research report on Friday, June 28th. Finally, Truist Financial started coverage on Westrock Coffee in a report on Monday. They set a “buy” rating and a $10.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $12.20.

Westrock Coffee Trading Up 1.8 %

The stock’s 50-day moving average price is $7.93 and its 200 day moving average price is $9.41. 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 firm has a market capitalization of $510.60 million, a PE ratio of -8.20 and a beta of 0.39.

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

Insider Buying and Selling at Westrock Coffee

In other news, CFO Thomas Christopher Pledger sold 6,600 shares of Westrock Coffee stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $10.00, for a total transaction of $66,000.00. Following the sale, the chief financial officer now owns 466,673 shares in the company, valued at $4,666,730. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Thomas Christopher Pledger sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $10.00, for a total value of $66,000.00. Following the completion of the transaction, the chief financial officer now owns 466,673 shares of the company’s stock, valued at approximately $4,666,730. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Hf Direct Investments Pool, Ll sold 38,393 shares of Westrock Coffee stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $10.11, for a total transaction of $388,153.23. Following the completion of the transaction, the insider now directly owns 12,745,237 shares in the company, valued at approximately $128,854,346.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 11,092 shares of company stock worth $81,546 and have sold 150,859 shares worth $1,519,491. 42.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Westrock Coffee

A number of hedge funds and other institutional investors have recently bought and sold shares of WEST. EverSource Wealth Advisors LLC increased its holdings in shares of Westrock Coffee by 69.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock worth $35,000 after buying an additional 1,444 shares in the last quarter. ProShare Advisors LLC bought a new stake in Westrock Coffee in the second quarter worth about $39,000. Hexagon Capital Partners LLC purchased a new stake in shares of Westrock Coffee during the 1st quarter valued at approximately $41,000. Wolverine Asset Management LLC grew its position in shares of 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 purchased a new position in shares of Westrock Coffee during the 1st quarter valued at about $117,000. Institutional investors own 45.08% of the company’s stock.

About Westrock Coffee

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.