Westrock Coffee (NASDAQ:WEST) Short Interest Down 18.9% in October

Westrock Coffee (NASDAQ:WEST) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 4,880,000 shares, a drop of 18.9% from the September 30th total of 6,020,000 shares. Based on an average daily volume of 364,300 shares, the short-interest ratio is currently 13.4 days.

Westrock Coffee Stock Performance

Westrock Coffee stock opened at $6.61 on Wednesday. Westrock Coffee has a 52-week low of $5.28 and a 52-week high of $11.21. 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 moving average price of $7.14 and a two-hundred day moving average price of $9.03. The firm has a market capitalization of $584.13 million, a P/E ratio of -12.02 and a beta of 0.39.

Westrock Coffee (NASDAQ:WEST) last announced its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). The firm had revenue of $208.39 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.21) EPS. As a group, analysts anticipate that Westrock Coffee will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on WEST. Truist Financial initiated coverage on shares of Westrock Coffee in a research note on Monday, October 7th. They set a “buy” rating and a $10.00 price target on the stock. Craig Hallum initiated coverage on shares of Westrock Coffee in a research report on Monday, September 23rd. They set a “buy” rating and a $13.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.20.

Insiders Place Their Bets

In related news, Director Joe T. Ford acquired 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $6.97 per share, with a total value of $34,850.00. Following the completion of the transaction, the director now owns 249,445 shares of the company’s stock, valued at approximately $1,738,631.65. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 11,092 shares of company stock worth $81,546 in the last ninety days. Insiders own 42.10% of the company’s stock.

Institutional Investors Weigh In On Westrock Coffee

A number of large investors have recently bought and sold shares of WEST. Hexagon Capital Partners LLC bought a new position in shares of Westrock Coffee in the first quarter valued at about $41,000. Vanguard Group Inc. raised its stake in shares of Westrock Coffee by 23.2% in the first quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock worth $26,221,000 after acquiring an additional 478,088 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Westrock Coffee by 5.3% during the first quarter. Gamco Investors INC. ET AL now owns 256,650 shares of the company’s stock worth $2,651,000 after purchasing an additional 13,000 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Westrock Coffee during the first quarter valued at approximately $117,000. Finally, Simplicity Wealth LLC bought a new stake in shares of Westrock Coffee during the second quarter valued at approximately $230,000. 45.08% of the stock is currently 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.