Westrock Coffee (NASDAQ:WEST) Shares Gap Up Following Insider Buying Activity

Shares of Westrock Coffee (NASDAQ:WEST) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $6.92, but opened at $7.53. Westrock Coffee shares last traded at $7.59, with a volume of 68,445 shares changing hands.

Specifically, Director Kenneth M. Parent acquired 62,735 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was bought at an average price of $8.07 per share, for a total transaction of $506,271.45. Following the transaction, the director now owns 112,451 shares of the company’s stock, valued at approximately $907,479.57. The trade was a 126.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Several research analysts have recently weighed in on WEST shares. Craig Hallum began coverage on shares of Westrock Coffee in a report on Monday, September 23rd. They set a “buy” rating and a $13.00 price target on the stock. Truist Financial began coverage on shares of Westrock Coffee in a report on Monday, October 7th. They set a “buy” rating and a $10.00 price target on the stock. Finally, Telsey Advisory Group cut their price target on shares of Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Westrock Coffee presently has an average rating of “Buy” and an average target price of $11.40.

Westrock Coffee Price Performance

The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41. The company has a market capitalization of $680.05 million, a P/E ratio of -8.40 and a beta of 0.48. The company’s 50-day simple moving average is $6.96 and its 200 day simple moving average is $8.38.

Institutional Trading of Westrock Coffee

Several large investors have recently modified their holdings of the company. Gilliland Jeter Wealth Management LLC boosted its holdings in Westrock Coffee by 81.9% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock valued at $30,000 after purchasing an additional 2,047 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of 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 buying an additional 1,444 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Westrock Coffee in the 2nd quarter valued at $39,000. Wolverine Asset Management LLC raised its stake in shares of Westrock Coffee by 79.8% in the 2nd 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 in the last quarter. Finally, Atom Investors LP acquired a new position in shares of Westrock Coffee in the 3rd quarter valued at $70,000. 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.