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

Mission Produce, Inc. (NASDAQ:AVO) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 1,132,043 shares, a decline of 14.4% from the December 31st total of 1,322,863 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 773,759 shares, the short-interest ratio is currently 1.5 days. Based on an average daily volume of 773,759 shares, the short-interest ratio is currently 1.5 days. Currently, 2.5% of the shares of the company are sold short.

Mission Produce Stock Performance

Shares of AVO stock opened at $13.43 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. Mission Produce has a 12-month low of $9.56 and a 12-month high of $14.23. The business’s 50 day moving average is $12.38 and its two-hundred day moving average is $12.25. The company has a market capitalization of $947.76 million, a P/E ratio of 25.83 and a beta of 0.56.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Thursday, December 18th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $301.60 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s quarterly revenue was down 10.0% compared to the same quarter last year. Analysts expect that Mission Produce will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, January 21st. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Insider Transactions at Mission Produce

In other Mission Produce news, major shareholder Holdings Venture Globalharvest purchased 985,704 shares of the stock in a transaction on Thursday, January 15th. The shares were bought at an average cost of $11.76 per share, with a total value of $11,591,879.04. Following the completion of the acquisition, the insider owned 8,837,286 shares in the company, valued at $103,926,483.36. This trade represents a 12.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 2,223,240 shares of company stock worth $26,975,387 in the last three months. Insiders own 35.41% of the company’s stock.

Institutional Trading of Mission Produce

A number of institutional investors and hedge funds have recently modified their holdings of AVO. Invesco Ltd. raised its position in shares of Mission Produce by 287.6% during the 2nd quarter. Invesco Ltd. now owns 360,863 shares of the company’s stock worth $4,229,000 after purchasing an additional 267,752 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Mission Produce by 174.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 366,957 shares of the company’s stock valued at $4,411,000 after acquiring an additional 233,447 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Mission Produce by 28.6% in the second quarter. American Century Companies Inc. now owns 861,139 shares of the company’s stock valued at $10,093,000 after acquiring an additional 191,405 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Mission Produce by 6.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,570,868 shares of the company’s stock worth $30,901,000 after acquiring an additional 159,726 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Mission Produce by 11.7% in the second quarter. Geode Capital Management LLC now owns 1,183,208 shares of the company’s stock worth $13,869,000 after acquiring an additional 123,678 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Mission Produce Company Profile

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.