Short Interest in Farmer Brothers Company (NASDAQ:FARM) Decreases By 64.5%

Farmer Brothers Company (NASDAQ:FARM) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 55,200 shares, a drop of 64.5% from the September 15th total of 155,400 shares. Based on an average daily volume of 202,600 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the shares of the company are short sold. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 202,600 shares, the days-to-cover ratio is presently 0.3 days.

Farmer Brothers Stock Up 4.0%

Shares of FARM stock opened at $1.80 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.50 and a debt-to-equity ratio of 0.33. Farmer Brothers has a twelve month low of $1.34 and a twelve month high of $3.29. The stock has a 50 day moving average of $1.84 and a 200 day moving average of $1.69. The stock has a market cap of $38.86 million, a P/E ratio of -2.65 and a beta of 1.41.

Farmer Brothers (NASDAQ:FARM) last issued its quarterly earnings data on Thursday, September 11th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.17. Farmer Brothers had a negative return on equity of 16.12% and a negative net margin of 4.24%.The company had revenue of $85.14 million for the quarter, compared to analyst estimates of $81.66 million. As a group, sell-side analysts expect that Farmer Brothers will post -0.37 EPS for the current year.

Institutional Trading of Farmer Brothers

Several institutional investors have recently bought and sold shares of the business. Sanders Morris Harris LLC grew its holdings in Farmer Brothers by 43.5% in the third quarter. Sanders Morris Harris LLC now owns 218,238 shares of the company’s stock valued at $373,000 after purchasing an additional 66,200 shares during the period. Gabelli Funds LLC grew its holdings in Farmer Brothers by 2.3% in the second quarter. Gabelli Funds LLC now owns 272,500 shares of the company’s stock valued at $373,000 after purchasing an additional 6,000 shares during the period. Panagora Asset Management Inc. acquired a new stake in Farmer Brothers in the second quarter valued at approximately $26,000. XTX Topco Ltd grew its holdings in Farmer Brothers by 210.2% in the second quarter. XTX Topco Ltd now owns 42,297 shares of the company’s stock valued at $58,000 after purchasing an additional 28,661 shares during the period. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of Farmer Brothers in the second quarter worth approximately $34,000. 64.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FARM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Farmer Brothers in a research report on Tuesday, October 14th. Craig Hallum cut Farmer Brothers from a “buy” rating to a “hold” rating and set a $2.50 price target for the company. in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Farmer Brothers currently has a consensus rating of “Reduce” and a consensus target price of $2.50.

About Farmer Brothers

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.